Apple absorbs higher costs on 'Made in India' iPhones despite PLI scheme

Under the PLI scheme, Apple's contract manufacturers get incentives ranging from an average of 4-6 per cent annually

Apple may not be passing on the higher cost of assembling the iPhone15 and iPhone Plus in India to its customers — compared to China as it is 13 per cent more on the freight on board (FOB) value. It will also not hike the price of the phones to absorb the hefty dealer margins of 10-12 per cent it forks out in India. But even so the ‘Made in India’ phones are far more expensive than those available in the US or in Dubai.

A look at the numbers tells you an interesting story. Despite the much-touted production-linked incentive (PLI)