The latest reports indicate that Apple may increase the price of all iPhone 17 SKUs in India. This move is attributed to high demand for the device and a shortage of stock.
The base variant of the iPhone 17, which comes with 256GB of storage, is currently priced at Rs. 82,900 in India. However, according to tipster Yogesh Brar's post on X, Apple may hike the price of this variant by up to Rs. 7,000.
As a result, the revised price of the iPhone 17 with 256GB storage could reach Rs. 89,900. This is the same price at which the iPhone 16's 256GB variant was available in India. The Cupertino-based tech giant may offer bank discounts to absorb some of the cost.
Why is Apple Increasing the Price?
The decision to increase the price of the iPhone 17 is attributed to two main factors: low stock and high demand. The high demand for the device, combined with a shortage of stock, has put pressure on Apple to raise its prices.
The Impact of Memory Component Prices
Recently launched flagship smartphones have all been introduced at higher price tags than their predecessors. This is largely due to the increasing cost of memory component prices. PC and smartphone memory chips, such as dynamic random access memory (DRAM), are severely scarce in the market.
The price of DRAM has witnessed a massive hike of 20-50 percent in recent days, with Samsung hiking its memory chip prices by up to 60 percent.
As a result, several smartphone manufacturers have been forced to increase their prices. For example, the OnePlus 15 was launched in India for Rs. 72,999, compared to the Rs. 69,999 price tag of the OnePlus 13.
The new iQOO 15 has also entered the market with a bigger price gap, with its predecessor's launch price being Rs. 54,999 for the base variant, while the latest model costs Rs. 72,999.
It remains to be seen whether Apple will actually increase the price of the iPhone 17 in India or if it will find other ways to manage its inventory and prices.
Conclusion
In conclusion, the reported price hike for the iPhone 17 in India is a significant development that could impact consumers' purchasing decisions. The increasing cost of memory component prices has led several smartphone manufacturers to raise their prices, and it remains to be seen whether Apple will follow suit.