No, the iPhone is not costliest in India

Meanwhile, the iPhone 17 Pro launched at Rs 1,34,900 in India, roughly 121 per cent above its US price. Even so, India was only the 23rd most expensive market globally, trailing the UK and several EU countries, as per the data.

Where the iPhone 17 Pro costs most and least in the world. (AI-generated graphic/ChatGPT)

Since Apple’s latest iPhone lineup is sold worldwide, the data shows how the retail price of one of the most sought-after smartphones varies on market basis. The rankings also underscore how taxes, import duties, and local market conditions often have a greater impact on iPhone prices than Apple’s global pricing strategy.

However, it is important to note that such global price rankings can change quickly given that currencies often fluctuate even as governments continue to tweak taxes and import policies. This means that today’s cheapest market for a device such as the iPhone 17 Pro may not hold that position for long.

What does the data show?

Based on the rankings, Turkey tops the chart at $2,592 for the 25GB version of the iPhone 17 Pro, more than $1,400 above the US price of $1,181. Turkey has emerged as the clearest outlier among other countries primarily because smartphones sold in the West Asian country recently became subjected to special consumption taxes and registration fees, in addition to a 20 per cent VAT (Value-Added Tax), which sharply increased retail prices of iPhones and other devices.

After Turkey, Brazil is ranked as the second-most expensive market for the iPhone 17 Pro ($2,260) followed by Egypt at $1,872.

On the other end of the list, Japan is found to have the lowest price tag at $1,121, slightly below US pricing. Beyond the iPhone 17 Pro, Japan is considered to be  one of the few markets where Apple’s flagship iPhone costs less than it does in the US because of a relatively low 10 per cent consumption tax and a highly competitive smartphone market combined with Apple’s long-standing pricing strategy in the country.

Note, Apple recently raised prices on some products in Japan following years of yen weakness and shifting exchange rates.

The middle portion of the rankings are mostly occupied by European countries partly because advertised prices include value-added tax (VAT). Standard VAT rates range from 27 per cent in Hungary to just over 8 per cent in Switzerland, leading to major differences in final retail prices of smartphones, according to the Visual Capitalist report.

Factors influencing cost of an iPhone

While Apple announces dedicated regional prices for all its markets, the governments in those countries also play a key role in determining what customers end up paying for the latest iPhone.

Government levies such as import duties, regulatory fees, and device-specific taxes can significantly increase or decrease the retail price of electronic devices. Local pricing can also be influenced by currency fluctuations, particularly when domestic currencies weaken against the US dollar.

Apple iPhone 17 Pro Max. (Express Photo)

Geopolitical tensions, tariffs, and shifting trade policies have also become key factors shaping Apple’s pricing and supply chain decisions in the past few years. Additionally, the smartphone market has been hit by the global memory chip shortage.

Memory chips, or DRAM, are crucial ‌to smartphones as they allow power-hungry applications to run smoothly. However, a rapid build-out of AI infrastructure by tech firms such as Meta, Google, and Microsoft has absorbed much of the supply of memory chips, lifting prices as manufacturers prioritise components ​for higher-margin data centres over consumer devices.

As a result, Apple announced last month that it has raised the prices of its Mac computers and iPads by 15 per cent to 25 per cent across its key markets, including India. More recently, the Cupertino-based tech giant unveiled its first-ever lease-to-own programme for iPhones. It is currently only available for customers in the US, who can lease iPhones and other Apple products for up to two years at prices starting at $17.99 per month.