GST: Apples cuts price for products in India

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The technology giant Apple had slashed the prices of its products in India

The technology giant Apple Company has to slash the prices of its products in India from July 1, 2017 for its iPhone, iPad and also the Mac. The company has to pass on the benefits to the consumers which have been accrued from the roll out of the GST. The prices of all kinds of the iPhone models will be reduced slashed from around 4% to 7.5% from July1, 2017 .This has been done to pass on all the benefits to consumers which will be accrued from the GST taxation regime introduced in the country.

The changes in prices can be viewed on the company’s website

The changes in the prices can be viewed on the website of the company .The most expensive iPhone 7 Plus model which was earlier available for INR 92000 will now be billed with an amount of INR 85400.Even the iPhone 6S was marked down to 6.2% lesser that the original amount which will now be priced at Rs 46900.Another iPhone called as iPhone SE which is being developed in Bengaluru in India has come down to a price of INR 26000 from the earlier cost of INR 27200.The 128 GB variant of the same phone will be cheaper by 6%.The Apple company has also slashed the prices of its other products which include iPads,Macs and also the Apple Watch.

The changed prices have actually taken into consideration the basic custom duty of 10%

The changed prices of the company’s products have actually taken into consideration the basic custom duty of 10% too into account. Also it has been speculated that by the end of this year, iPhone 6 and SE will be the company’s flagships by which the new users will be going to enter into the company’s ecosystem for the first time. Looking at the domestic players just like the Micromax and the Lava Company, it is unlikely that they are going to revise their prices after the implementation of the Goods and the Service Act (GST).

India is a highly crucial market for the Apple Company

Well India is a highly crucial market for the Apple Company and this move by the firm is surely going to further consolidate its position here. The company at present is having the market share of around 44% of the Indian market while its main rival Samsung is having 41% of the market share according to the reports of the first quarter of the year 2017.

The price slash move by the company post GST is surely going to cement its position in India

The CEO of the Apple Company, Tim Cook said that the company is making its efforts to strengthen its presence in the local market and it is optimistic about its future growth in India. This year in May, the company started the production of the smaller number of units of iPhone SE in Bengaluru, India. The firm also came up with its Apple accelerator in an effort to extend fully specialised support to all the developers. The price slash move by the company post GST is surely going to cement the position of the tech giant in the competitive Indian market.

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