India-manufactured iPhone Xs, Xs Max going on sale next month
What's the story
Apple could finally slash the prices of its flagships in India.
A new report has indicated the Cupertino giant is gearing up to sell locally-manufactured iPhone Xs and Xs Max units under PM Modi's 'Make in India' scheme.
The move could bring a considerable reduction in the prices of the iPhones, which have been selling at over Rs. 1 lakh.
Here are the details.
Plan
Notably, Apple has already been manufacturing low-end iPhones in India
To note, Apple already sells a few India-made iPhones, but the thing is, they are low-end models which are nearing the end of their life-cycles.
As a result, no one really wants to buy years-old iPhone SE, iPhone 6s, or iPhone 7 when tech giants like OnePlus and Xiaomi offer latest products at similar or lesser prices.
This has largely affected iPhone sales too.
Plans
Now, it plans to expand local assembly
Now, in order to boost sales in India, the second-largest smartphone market in the world, Apple's assembly partner Foxconn will make iPhone Xs, Xs Max, and Xr in the country.
The move will not only cut the 20% import duty the company has to pay, but will also make it eligible to government-backed incentives.
Evidently, this reduction will be passed onto the customers.
Details
India-made top-end iPhones will go on sale next month
Though it still remains unclear how much price cut Apple has planned for each of the three iPhones, the move is expected to be executed soon.
A source familiar with the matter told Reuters that some internal approvals are pending, post which the iPhones should be available at reduced prices.
If all goes as planned, the new price structure should go live in August.
Possibility
Price cut could boost Apple's market share
Despite being an insanely popular brand, Apple holds just 1% share in the Indian market - an obvious result of high prices.
It has previously acknowledged that the weakening value of some currencies (Rupee being one of them) against the US dollar has contributed to the drastic price increase.
However, with local manufacturing, the company could finally tackle some of those issues.