Apple to save ₹418 cr/yr as customs duty on phones lowered: Report

Apple will save $30 million-$50 million (₹251 crore-₹418 crore) per year from government's proposal to reduce basic customs duty on mobile phones, its related parts and chargers to 15%, a report citing experts said. "This could be savings for OEMs who are importing Completely Built Units, especially like Apple or new entrants," said Neil Shah, Vice President of Counterpoint Research.