The Indian smartphone market was not very excited about Budget 2024, but there were a few encouraging signs that the sector may continue to expand. However, Indian consumers of smartphones who were hoping for reduced costs for the newest models will be let down. Let's find out if it is a Budget Magic or Marketing Trick. Here are the facts for Smartphone Prices Explained.

When Will India See Cheaper iPhone Pros?

For those who have been waiting impatiently for more reasonably priced iPhone Pro models, there is some hope, thanks to the recent decrease in import duties on mobile phones in India. This is a positive start, even though its exact impact on costs is still unknown. The final price reduction will depend on several factors:

Apple's Pricing Strategy

The corporation must decide how much of the savings it will pass to customers. The reduction in iPhone costs may be more significant if Apple chooses to pass along a sizable amount of the cost savings to users.

Manufacturing Shift

As Apple expands its domestic manufacturing in India, some models may see price increases. Because of the company's investment in domestic production, premium models like the iPhone Pro may become more affordable.

Economic Conditions

General economic variables, such as inflation and exchange rates, will also be necessary. The amount that the tariff decrease translates into lower retail pricing will depend on the state of the economy.

The overall impact of these factors will determine how much the Indian government's cut in import duties on mobile phones will benefit consumers. However, according to industry experts, it is unlikely that the recent modifications to the essential customs duty on mobile phones and their components will enable phone manufacturers to pass on the savings to the final customer. Importing phones is subject to customs duties, which is essential for companies like Apple and Google that import their assembled smartphones from other nations. Although there has been a surge in demand for premium phones in the Indian market in recent years, most consumers still prefer to purchase phones in the inexpensive and mid-range spectrum.

Budget Impact

Reducing customs duties from 20 percent to 15 percent may seem significant. Still, the overall impact of these reductions may never reach consumers due to continuous price inflation and the high cost of raw commodities.

Experts had hoped that the Centre would provide slab-wise changes, which may have contributed to the expansion and wider availability of reasonably priced 5G phones on the market. Since many phone manufacturers have moved their production facilities to India, the government is now targeting IT giants like Apple, Google, and others to open offices there to establish India as a long-term export hub for their goods.