At the Delhi Airport, a man was arrested by the customs for allegedly trying to smuggle 100 iPhone X models into the country. The 53-year-old accused was intercepted by the customs after his arrival from Dubai on Friday. Apple iPhone X is one of the most expensive flagship smartphones in the country right now.
The base model of iPhone X with 64GB storage retails at Rs 95,390 while the higher version with 256GB storage retails for Rs 1,08,930. “Hundred iPhone X handsets worth a total of Rs 85.61 lakh were seized from his baggage after a thorough search,” said Amandeep Singh, Additional Commissioner of customs at the airport.
Research firm Strategy Analytics reported that Apple sold 16 million units of iPhone X during the first quarter of 2018. It was also the most successful smartphone model in terms of sales during the quarter ending March 2018.
Last week, Apple announced record results during fiscal 2018 second quarter ending March 31, 2018. It posted a quarterly revenue of $61.6 billion, a jump of 16 percent from the same period last year. The record quarter was mainly driven by $38 billion in revenue from sales of 52 million iPhone during the quarter. Apple said international sales accounted for 65 percent of the revenue.
“Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20 percent growth in Greater China and Japan,” CEO Tim Cook said during the earnings call.
Apple also announced $100 billion in additional stock buybacks as a way of reassuring that iPhone sales are not off the cliff yet. The results last week topped most estimates by Wall Street analysts, who had a cast over Apple’s continued success in the smartphone market.
Watch: Apple iPhone X Video Review
However, in India, Apple still continues to struggle due to the already high price of iPhone and the recent hike due to an increase in import duty on CBUs (completely built units) to 20 percent. Apple, however, remains confident of success in India in the next few years as it expands its manufacturing efforts in the country.
There is no word on whether this man brought 100 units of iPhone X with an intention to sell them in the grey market. One thing is clear, the overall price for these devices would have been way cheaper than the operating price of iPhone X in India.