Now you can buy the iPhone XR starting at Rs 59,900 in India after Apple slashed the prices by Rs 17,000. This is the second price drop that the XR has received since it was made available in India by the end of October 2018. Earlier this year, Apple had slashed the prices of the iPhone XR in the US by $100 as it faced a slower adoption rate than the earlier generations of iPhone. Apple will offer a 22% discount on the iPhone XR starting from Friday, April 5 in India. After the price drop, 64GB variant of the iPhone XR will retail at Rs 59,900 while the 128GB and 256GB models have dropped down to Rs 64,900 and Rs 74,900 respectively. As per the updated prices, the top-end model of iPhone XR will now retail at a lesser price than the launch price of the base variant. In addition, Apple is offering an extra 10% cashback to HDFC Bank debit and credit card holders taking the price further down to Rs 53,900. Previously, Tim Cook, CEO, Apple had stated that the company was adjusting prices in markets marred with currency fluctuations. Due to the high prices coupled with the 20% import duty fee, Apple's iPhone shipment declined by 25% in Q4 2018 giving it a huge blow in the premium mobile phone segment in India. To counter this, Apple is gearing up to manufacture the latest iPhone models in India which can further reduce the prices of the phones. At the moment we have no official information about a price drop on other products by Apple but we'll keep you posted in case that happens. Image Credits: TechRadar<doc-sep>Bank of America CEO on raising minimum wage: It's an investment in our teammates See Biden floor it in electric Ford pickup truck President Joe Biden stops to talk to the media as he drives a Ford F-150 Lightning truck at Ford Dearborn Development Center, Tuesday, May 18, 2021, in Dearborn, Mich. A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Check out the new electric Ford F-150 Lightning Ethereum's 27-year-old founder says we're in a crypto bubble. Did it just burst? Vitalik Buterin, co-founder and inventor of Ethereum speaks during Samsung Developer Conference in San Jose, California on October 30, 2019. QAnon is spreading in churches. These pastors are trying to stop it Left: James Kendall is the Senior Pastor at Grace Community Church in Madera, California. Kendall gave a sermon at his church warning congregants about QAnon. Right: Ben Marsh is a pastor at First Alliance Church in Winston-Salem, North Carolina. He has seen members of his church share conspiracy theories on their social media pages. Carlos Ghosn says he has to tell his side of the story TOPSHOT - Former Renault-Nissan boss Carlos Ghosn looks on before addressing a large crowd of journalists on his reasons for dodging trial in Japan, where he is accused of financial misconduct, at the Lebanese Press Syndicate in Beirut on January 8, 2020. - Ghosn arrived at the venue, making his first public appearance since skipping bail in Japan. The fugitive tycoon, who denies any wrongdoing, skipped bail while awaiting trial on multiple charges of financial misconduct including allegedly under-reporting his compensation to the tune of $85 million. (Photo by JOSEPH EID/AFP via Getty Images) BTS and McDonald's launch exclusive meal with two new dipping sauces B25_25594_R James Bond (Daniel Craig) prepares to shoot in NO TIME TO DIE, an EON Productions and Metro-Goldwyn-Mayer Studios film Credit: Nicola Dove © 2020 DANJAQ, LLC AND MGM. ALL RIGHTS RESERVED. BEIJING, CHINA - JANUARY 07: The Apple logo is seen on the window at an Apple Store on January 7, 2019 in Beijing, China. Apple Inc. lowered its revenue guidance last week, blaming China's slowing economy and weaker than expected iPhone sales, as the company's chief executive officer Tim Cook said in a letter to investors the sales problems were primarily in its Greater China region that accounts for almost 20 percent of its revenue and includes Hong Kong and Taiwan. (Photo by Kevin Frayer/Getty Images) (CNN Business) — The prices of iPhones in China are falling thanks to a tax cut that took effect Monday. Apple cut the prices on iPhones, iPads and other products on its official Chinese website. The cuts followed a three percentage-point drop in the rate of value-added (sales) tax that kicked in on April 1, according to state-run news agency Xinhua. Apple (AAPL) reduced the price of some products, such as the iPhone XS, by even more than the 3% tax cut. The latest 64GB iPhone XS now costs 8,199 yuan ($1,220), making it 500 yuan ($74), or 5.8%, cheaper for Chinese buyers. The iPhone XR dropped in price by 300 yuan ($45), or 4.6%. Apple (AAPL) declined to comment on the price changes. The company raised alarm bells in January when CEO Tim Cook warned investors that “more severe” economic conditions in China weighed on iPhone sales last year. Cook later told Reuters that Apple would lower iPhone prices in some markets outside the United States to offset the strong US dollar. But the iPhone had already been struggling in China, even before the country’s economy showed signs of slowing and the weak Chinese yuan bumped up prices. Apple’s smartphone sales in China have been declining for more than three years and plunged by 20% last quarter, according to market research firm IDC. The California company faces stiff competition from domestic rivals like Huawei, Oppo, Vivo and Xiaomi, which all offer cheaper, high-end smartphones tailored for the Chinese market. “Even with this price reduction, these iPhones are still more expensive than the competing ones from those such as Huawei,” said Kiranjeet Kaur, an analyst with IDC. Still, China remains a key market for Apple, accounting for more than 15% of total sales. Revenue from the Greater China region — which includes Hong Kong and Taiwan — fell about 27% to $13.2 billion last quarter compared to the same period a year earlier.<doc-sep>
Chinese customers in an Apple store on Jan. 3, 2019, in Beijing, one day after Apple preannounced weak quarterly results that it attributed primarily to a sales slowdown in China. The cuts also come months after the company blamed a $5 billion to $9 billion revenue shortfall in the fourth quarter of 2018 on " lower than anticipated " iPhone sales and demand in China, Taiwan and Hong Kong. The price cuts were in direct response to a tax change in China which lowered the value-added tax for manufacturers like Apple, according to Caixin . Apple has cut prices for several of its most important products on its official Chinese online store by nearly 6 percent. The price cuts affect products including iPhones, iPads, Macs and AirPods, according to Apple's online store in China. "If you look at our results, our shortfall is over 100 percent from iPhone and it's primarily in greater China," Apple CEO Tim Cook told CNBC in January when the company lowered its revenue guidance ahead of earnings. The price cuts can be seen on Apple's website. For example, the entry-level iPhone XR now costs 6,199 yuan, 4.6 percent lower than on March 29, when Apple listed 6,499 yuan as its price. Apple's high-end iPhone XS and iPhone XS Max models each got a 500 yuan price cut, which works out to $74.50 at the current exchange rate. Earlier this year, prices on Apple products were lowered on official third-party sellers in China including Tmall and JD.com. According to Apple's customer service, anybody who has bought an affected product from Apple in China within the past 14 days can receive a refund for the difference in price. Greater China, which includes Hong Kong and Taiwan, accounted for about 15 percent of Apple's revenue in the fourth calendar quarter of 2018, the most recent quarter for which statistics are available. However, Apple's China revenue of $13.17 billion was down nearly $5 billion from a year ago. Apple shares went up slightly Monday.