India raises import tax on cellphones, move to hurt Apple

FILE PHOTO: A man talks on his iPhone at a mobile phone store in New Delhi, India, July 27, 2016. REUTERS/Adnan Abidi/File photo

NEW DELHI: India has increased the import tax on dozens of electronic products such as mobile phones and television sets, a government statement said, to help curb supplies from overseas and build up the domestic industry. 

The rise in tax from 10% to 15% on handsets will make imports of phones – including most of Apple's iPhone models – more expensive at a time the company's revenue growth is slowing in India's US$10bil (RM40.83bil) smartphone market.