iPhone 17 price in India could go up by ₹7,000
What's the story
Apple may soon hike the price of its latest iPhone 17 in India. The potential increase is being attributed to high demand and supply chain issues. According to tipster Yogesh Brar, the company might raise prices by as much as ₹7,000 for both storage variants of the device. If this happens, the base model with 256GB storage could cost ₹89,900 while the higher-end 512GB variant might be priced at ₹1,09,900.
Price mitigation
Apple may offer bank discounts to ease price hike
To help customers cope with the potential price increase, Apple could offer bank discounts during peak sales periods. The possible revision comes amid low stocks of the iPhone 17 and high demand in the current sales cycle. However, it remains unclear if rising component costs are also contributing to this possible price adjustment for the iPhone 17 models.
Market impact
Global chip shortage driving up smartphone prices
The global chip shortage has led to a significant increase in memory chip prices, including DRAMs used in smartphones and PCs. The shortage has resulted in a 20-50% increase in memory costs, with Samsung reportedly raising its chip rates by as much as 60%. These increased component costs have already impacted pricing across the smartphone industry.
Price trend
Rising component costs reflected in recent flagship launches
The impact of rising component costs is evident in recent flagship launches in India. The OnePlus 15 debuted at ₹72,999, a hike from its predecessor's launch price of ₹69,999. The gap is even wider for the latest iQOO model. The iQOO 15 was launched at ₹72,999 while its predecessor had launched at ₹54,999 for its base variant.