iPhone 17 launch: Weak rupee threatens to make Apple product costlier for Indian buyers

Apple is set to unveil its iPhone 17 series during its much-awaited “Awe Dropping” event on September 9, but Indian consumers could face higher launch prices as a sliding rupee threatens to inflate costs.

The entry-level model is expected to start at about ₹86,000, reported Moneycontrol, citing market research firm TechArc.

The rupee fell 10 paise to close at 88.12 against the US dollar on Thursday amid sustained foreign fund outflows and a stronger greenback.

At the interbank foreign exchange, the rupee opened at 88.09 against the US dollar and traded in the range of 87.85-88.19 before settling at 88.12, down 10 paise from its previous close.

"US tariff concerns, along with capital outflows, have been constantly weighing on sentiments of rupee, which has not been able to show any gains except sporadically. The revisions to GST... led to a marginal improvement early in the morning," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

TechArc said iPhone launch prices in India have historically tracked the rupee-dollar exchange rate. While Apple will manufacture the iPhone 17 locally from the outset, key components will still be imported, leaving costs vulnerable to currency swings.

“Apple may avoid importing completely built units this year but key components will still come from abroad, keeping costs tied to currency fluctuations,” Moneycontrol quoted Faisal Kawoosa, chief analyst at TechArc, as saying.

The iPhone’s base model has more than doubled in price in India over the years, from ₹31,000 in early generations to ₹79,900 for the iPhone 16. On average, prices have risen 7.6% annually, compared with a 5.2% annual depreciation in the rupee.

Apple's annual sales in India hit a record of nearly $9 billion in FY2024-25, marking a 13% increase in its revenue in the 12 months from $8 billion a year earlier, reported Bloomberg.

The Cupertino-based company has been expanding its retail footprint in the country, opening stores in Bengaluru and Pune this week, with more planned in Noida and Mumbai next year.