India is one of the most competitive markets for smartphone brands. Before the COVID-19 pandemic took its toll on commercial activities, India was the only positively growing smartphone market in the world. The sheer number of smartphone users (about 400 million) and the huge potential to onboard a larger number of new users has drawn several brands to target India specifically. As a result, smartphones are sold at very lucrative prices with thin margins, especially by brands like Xiaomi and Realme. But as all good things come to an end, this glorious period of tempting smartphone deals in India might become less attractive following the 50% hike Goods and Service Tax (GST) hike that is effective starting today i.e. April 1st, 2020.

Last month, India's Finance Minister, Nirmala Sitharaman, announced an increase in the GST rate on mobile phones and specified parts. As compared to the previous rate of 12% GST, the new applicable rate is 18% – i.e. a sharp 50% increase. The announcement comes in spite of the depreciating value of the Indian Rupee against the US Dollar, extensive competition, and already slim margins.

As a result of this hike, smartphone makers are left with no alternative but to increase the prices of smartphones and accessories. Xiaomi, India's largest smartphone seller, has already confirmed its intention to increase the prices of the phone citing the increase in GST rate and the poor performance of the Rupee. In an open letter to its patrons, Xiaomi announced that it will be increasing its prices.

Xiaomi's spin-off brand POCO has also announced an increase of ₹1,000 (~$15) in all variants of the POCO X2 (review). In the meantime, while OPPO and Vivo didn't announce a price hike formally, offline retailer Mahesh Telecom shared details about the increased prices of some of the top-selling models.

Likewise, Realme has also increased the prices of its phones.

While we are still awaiting details on the exact price hikes by companies, we have collated a list of smartphones with increased prices.

Old vs New Smartphone Prices in India after GST hike

Brand

Model

Old Price with 12% GST

New Price with 18% GST

Xiaomi

Redmi K20 Pro 6GB/128GB

₹24,999

₹26,999

Redmi K20 Pro 8GB/256GB

₹27,999

₹29,999

Redmi K20 6GB/64GB

₹19,999

₹21,999

Redmi K20 6GB/128GB

₹22,999

₹24,299

Redmi Note 9 Pro Max 6GB/64GB

₹14,999

₹16,499

Redmi Note 9 Pro Max 6GB/128GB

₹16,999

₹17,999

Redmi Note 9 Pro Max 8GB/128GB

₹18,999

₹19,999

Redmi Note 9 Pro 4GB/64GB

₹12,999

₹13,999

Redmi Note 9 Pro 6GB/128GB

₹15,999

₹16,999

Redmi Note 8 Pro 6GB/64GB

₹13,999

₹15,999

Redmi Note 8 Pro 6GB/128GB

₹15,999

₹16,999

Redmi Note 8 Pro 8GB/128GB

₹17,999

₹18,999

Redmi Note 8 4GB/64GB

₹9,999

₹10,999

Redmi Note 8 6GB/128GB

₹12,999

₹13,999

Redmi Note 7 Pro 4GB/64GB

₹9,999

₹10,999

Redmi Note 7 Pro 6GB/64GB

 ₹10,999

₹12,999

Redmi Note 7 Pro 6GB/128GB

₹11,999

₹13,999

Redmi Note 7S 3GB/32GB

₹8,999

₹9,999

Redmi Note 7S 4GB/64GB

₹9,999

₹11,999

Redmi 8 4GB/64GB

₹8,199

₹8,999

Redmi 8A 2GB/32GB

₹6,499

₹6,999

Redmi 8A 3GB/32GB

₹6,999

₹7,499

POCO

POCO X2 6GB/64GB

₹15,999

₹16,999

POCO X2 6GB/128GB

₹16,999

₹17,999

POCO X2 8GB/256GB

₹19,999

₹20,999

Realme

Realme X50 Pro 6GB/128GB

₹37,999

₹39,999

Realme X50 Pro 8GB/128GB

₹39,999

₹41,999

Realme X50 Pro 12GB/256GB

₹44,999

₹47,999

Realme X2 Pro 6GB/64GB

₹27,999

₹29,999

Realme X2 Pro 8GB/128GB

₹29,999

₹31,999

Realme X2 Pro 12GB/256GB

₹33,999

₹35,999

Realme X2 4GB/64GB

₹16,999

₹17,999

Realme X2 6GB/128GB

₹18,999

₹19,999

Realme X2 8GB/128GB

₹19,999

₹20,999

Realme X 4GB/128GB

₹16,999

₹17,999

Realme X 8GB/128GB

₹19,999

₹20,999

Realme 6 Pro 6GB/64GB

₹16,999

₹17,999

Realme 6 Pro 6GB/128GB

₹17,999

₹18,999

Realme 6 Pro 8GB/128GB

₹18,999

₹19,999

Realme XT 4GB/64GB

₹15,999

₹16,999

Realme XT 8GB/128GB

₹18,999

₹19,999

Realme 6 4GB/64GB

₹12,999

₹13,999

Realme 6 6GB/128GB

₹14,999

₹15,999

Realme 6 8GB/128GB

₹15,999

₹16,999

Realme 5 Pro 4GB/64GB

₹12,999

₹13,999

Realme 5 Pro 6GB/64GB

₹13,999

₹14,999

Realme 5 Pro 8GB/128GB

₹15,999

₹16,999

Realme 5 3GB/32GB

₹8,999

₹9,499

Realme 5 4GB/64GB

₹9,999

₹10,499

Realme 5 4GB/128GB

₹10,999

₹11,499

Realme 5i 4GB/64GB

₹8,999

₹9,999

Realme 5i 4GB/128GB

₹9,999

₹10,999

Realme C3 3GB/32GB

₹6,999

₹7,499

Realme C3 4GB/64GB

₹7,999

₹8,499

Samsung

Galaxy S20

₹66,999

₹70,500

Galaxy S20+

₹73,999

₹79,900

Galaxy S20 Ultra

₹92,999

₹97,900

Galaxy Z Flip

₹1,09,999

₹1,15,890

Galaxy Note 10

₹69,999

₹73,600

Galaxy Note 10+ 12GB/256GB

₹79,999

₹84,200

Galaxy Note 10+ 12GB/512GB

₹89,999

₹94,700

Galaxy Note 10 Lite 6GB/128GB

₹38,999

₹41,000

Galaxy Note 10 Lite 8GB/128GB

₹40,999

₹43,100

Galaxy S10 Lite 8GB/128GB

₹39,999

₹42,142

Galaxy S10 Lite 8GB/512GB

₹44,999

₹47,300

Galaxy A71

₹29,999

₹31,500

Galaxy A51

₹23,999

₹25,250

Galaxy M31 6GB/64GB

₹15,999

₹16,856

Galaxy M31 6GB/128GB

₹16,999

₹17,910

Galaxy M30s 4GB/64GB

₹13,999

₹14,749

Galaxy M30s 4GB/128GB

₹14,999

₹15,803

Galaxy M30s 4GB/128GB

₹15,999

₹16,856

Galaxy M21 4GB/64GB

 ₹13,499

 ₹14,222

Galaxy M21 4GB/64GB

 ₹15,499

 ₹16,329

OPPO

Reno3 Pro (Global)

₹29,990

₹31,990

Reno2

₹36,990

₹38,990

Reno2 Z

₹25,990

₹27,490

Reno2 F

₹21,990

₹23,490

Vivo

Vivo U20

₹17,990

₹19,990

Vivo S1 4GB/128GB

₹15,990

₹17,990

Vivo S1 6GB/64GB

₹17,990

₹19,990

Vivo S1 Pro 8GB/128GB

₹18,990

₹20,990

Vivo V17 8GB/128GB

₹22,990

₹24,990

iQOO

iQOO 3 4G 8GB/128GB

₹36,990

₹38,990

iQOO 3 4G 8GB/256GB

₹39,990

₹41,990

iQOO 3 5G 12GB/256GB

₹44,990

₹46,990

Apple

iPhone 11 Pro Max 64GB

₹1,11,200

₹1,17,100

iPhone 11 Pro Max 256GB

₹1,25,200

₹1,31,900

iPhone 11 Pro Max 512GB

₹1,43,200

₹1,50,800

iPhone 11 Pro 64GB

₹1,01,200

₹1,06,600

iPhone 11 Pro 256GB

₹1,15,200

₹1,21,300

iPhone 11 Pro 512GB

₹1,33,200

₹1,40,300

iPhone 11 64GB

₹64,900

₹68,300

iPhone 11 128GB

₹69,900

₹73,600

iPhone 11 256GB

₹79,900

₹84,100

iPhone XS 64GB

₹89,900

₹94,700

iPhone XS 256GB

₹1,03,900

₹1,09,400

iPhone XR 64GB

₹49,900

₹52,500

iPhone XR 128GB

₹54,900

₹57,800

iPhone 8 64GB

₹40,500

₹42,600

iPhone 8 128GB

₹45,500

₹47,900

iPhone 8 Plus 64GB

₹50,600

₹53,300

iPhone 8 Plus 128GB

₹55,600

₹58,500

The list above is incomplete but we'll be adding more recently launched devices as we learn about the increase in prices of other smartphones in India. Needless to say, the tax increase will affect the entire industry. Those who can absorb the rise in cost, will; while those with thin margins will have no option but to pass on the burden to the end consumer. However, keep in mind that the country is on COVID-19-related lockdown, so sales on both offline and online platforms are on hold.