Within days of government hiking the customs duty on mobile phones, tech major Apple has raised prices of the iPhone by up to Rs3,210 across various models. In an attempt to boost local manufacturing and employment, the government last week raised customs duty on mobile phones from 15% to 20%. This, the government hopes, will give local manufacturers a cost advantage over imports, besides raising customs duty collections. This follows the government raising customs duty on handsets from 10% to 15% on 15 December. At that time, prices of top iPhone models, except for iPhone SE, had gone up by an average of 3.5%.

Source: Mint February 05, 2018 10:41 UTC