India Increased Cell Phone Importing Tax
- Release on :2017-12-20
According to Business Insider reports, a statement from the India government announced that India had increased the import tax on ten electronic products, including mobile phones and televisions. This aim is to curb the supply of products from foreign countries and promote domestic industry. The current smartphone market in India is up to $10 billion, and Apple’s revenue growth is slowing down here. The India government increased mobile phone import tax rate from 10% to 15%, which will make the majority of mobile phone models including iPhone with higher cost of import.
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