Following the new updated Tax slab for mobile phones in the 39th GST Council, the OEMs of Smartphones prices increased in Indian market, are increasing the prices of their mobile smartphones.
The Indian smartphone market is the one of the most competitive market for the OEMs brands like Xiaomi, Samsung, Realme, Oppo, Vivo, Apple and others.
Globally, the Indian smartphone market was predominantly positive growing market. There are more that 400 million smartphone users in Indian and it has huge capacity to have new users in the smartphone market.
The smartphone manufactures have increased the price of their smartphones in the Indian market. This price hike is caused due to the depletion of Indian rupee when compared to the US Dollar and the parts supply chain issue in the global market with the Covid-19 pandemic.
India’s Finance minister, Nirmala Sitharaman has announced a huge 50% increase in the GST rates for the mobile smartphones and its parts. Earlier the GST rates for the mobile phones was 12%, now the new applicable GST rate is 18%.
With the increase in the GST rates for the mobile phones, the manufactures have increased the prices of their smartphones. As they have no other options left but to hike the prices of there devices.
Here are the list of smartphones with the updated price after the increased GST rates and the older rates
The some of Apple’s iPhone Smartphones prices increased which has got the price hike for import duty in the month of march. Now once again updated the prices of it some iPhone models.
Vivo smartphones have also increased the prices of their devices after recent GST rates update.
Xiaomi has also updated the prices of there smartphones in India to follow up the new GST Tax slab with increased GST rates in the Indian market.