iPhone prices jump sharply in India after Apple's new launches
What's the story
Apple has raised the prices of its existing iPhone models in India just hours after unveiling new ones. This is one of the biggest price hikes in any market this year. The move is a departure from Apple's usual practice of discounting older models after launching new ones. Despite being one of Apple's fastest-growing markets and a major hub for iPhone assembly, Indian consumers are not immune to these price hikes.
Model updates
Changes implemented after new models unveiled
The iPhone 17, which was launched at ₹82,900, now costs ₹99,900, an increase of ₹17,000.
The iPhone Air has also seen a price hike from its previous tag of ₹1,19,900 to the current cost of ₹1,49,900, an increase of ₹30,000.
These changes were introduced shortly after Apple unveiled its new models during the "Surprise and Shine" event.
Global impact
Price adjustments due to global chip cost increases
The price hikes aren't just limited to India. In the US, Apple has also increased its iPhone prices by 10% to 21%.
The company cited rising memory and storage chip costs as the reason behind these global price adjustments.
A surge in AI-driven demand for data centers has led consumer electronics companies into a fierce competition for these key components, driving up their costs.
Consumer response
Swift backlash on social media in India
The steep price hikes have drawn a swift reaction on social media in India.
Many commentators have said that the new pricing pushes the iPhone further into luxury territory for Indian buyers.
The pricing of the foldable iPhone has also been criticized, as it is over $1,100 costlier than its US counterpart.
In India, the iPhone Duo starts at ₹2,99,900.