After the Indian government decided to raise customs duty on various electronic items last week, Apple raised prices of its iPhone lineup in India earlier this week. It is now expected that a few other manufacturers such as Samsung may also take a similar decision and revise prices of their flagship smartphones in the Indian…
After the Indian government decided to raise customs duty on various electronic items last week, Apple raised prices of its iPhone lineup in India earlier this week. It is now expected that a few other manufacturers such as Samsung may also take a similar decision and revise prices of their flagship smartphones in the Indian market. The customs duty on smartphones, which was set at 10% earlier, has now been increased to 15%. To compensate for the rise in customs duty, manufacturers have no other option but to raise prices. In the future, however, this could possibly encourage Samsung and other smartphone makers to start manufacturing their flagship models in India.
If you are planning to buy a new Samsung flagship smartphone, it is a good idea to purchase one as soon as possible. Samsung is yet to announce a revision to the prices of its Galaxy smartphones just yet but it might happen very soon. Unlike the company’s entry-level and mid-range handsets, the flagship Galaxy models are not manufactured in India, which means Samsung will now have to pay higher duties for importing them to the country. Prices of the Galaxy Note8, Galaxy S8, and the Galaxy S8 Plus are expected to rise by almost Rs.2,000. But as we’ve seen in Apple’s case, most online retailers haven’t revised prices just yet and continue to offer discounts on the recommended retail prices. Unfortunately, there is a possibility of another increase in customs duty happening soon. Analysts believe a further 5% rise is possible as domestic manufacturers have been demanding the hike for some time now. While the hike will give domestic manufacturers some edge over foreign brands, consumers will definitely feel a little disappointed in the short-term at least.
Apart from smartphones, you can also expect prices of certain high-end TVs, microwave ovens, LED lamps, and digital cameras to go up in the near future.
