The company has reduced the price of high-end models up to Rs 6,000 (Image: Apple.com)

After the announcement by Finance Minister Nirmala Sitharaman about the reduction of basic customs duty on mobile phones in the Union Budget 2024, iPhone maker Apple has cut down its price in India since it is manufactured in Tamil Nadu. The company has reduced the price of high-end models up to Rs 6,000.

The company has already updated new phone prices on its website as the latest models of iPhone 15 Pro and iPhone 15 Pro max can be purchased with a Rs 6,000 discount from the actual price, whereas its base variants are listed with a lower discount price.

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iPhone 15 (128 GB) is priced at 79,900 as it was 79,600 earlier. There is only Rs 300 off for the base variants for all other storages as well except iPhone Pro and iPhone Pro Max. iPhone 15 Pro with 128 GB can be purchased at Rs 1,29,800, earlier it was Rs 1,34,900.

In a significant development, the government reduced the basic customs duty on mobile phones, chargers and other accessories to 15 percent in the Union Budget presented on Tuesday.

The move would provide relief to the users, with mobile phones and chargers set to be cheaper due to the custom reduction. The revision would also be made in other tax structures including the GST.  The government would try to further rationalise the Goods And Service Tax (GST) structure.

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This significant cut would demand a major rise in smartphone purchases as GST attracted 18 percent before the budget announcement with 22 percent customs duty. But the basic customs duty of 10 percent will remain the same as the previous tax.