The iPhone 15 Pro Max has captured the attention of Indian buyers, with its price tag of at least Rs 1.60 lakh not deterring enthusiasts. The demand for this latest iPhone has left initial stocks strained, unable to meet the unexpectedly high demand. If you’re looking to purchase the iPhone 15 Pro Max in India right now, be prepared to pay up to Rs 20,000 more than its official price.

Smartkhabrinews Tech has learned that the iPhone 15 Pro models, launched just three days ago on September 22, are in exceptionally high demand across India. This is especially true for the iPhone 15 Pro Max, and most offline and online retailers have run out of stock for immediate delivery. Our team reached out to various offline retailers in New Delhi and tier-2 cities like Jaipur, only to discover that they are selling these iPhones above the manufacturer’s suggested retail price (MRP).

Price Premiums on iPhone 15 Pro Models

Retailers are selling the top-end iPhone Pro Max 256GB variant in Natural Titanium for approximately Rs 20,000 over the MRP of Rs 1,59,900. While the premium for the smaller iPhone 15 Pro isn’t as exorbitant as the Pro Max, retailers are asking for Rs 5,000-10,000 extra, depending on the desired color and storage capacity.

For instance, a retailer in Karol Bagh, New Delhi, quoted a price of Rs 1,51,000 for the iPhone 15 Pro 256GB in Titanium Blue, which is exactly Rs 6,000 more than the MRP of Rs 1,44,900. Expecting a different situation in cities like Jaipur, we were surprised to find a retailer in Ganpati Plaza, MI Road, openly listing the iPhone 15 Pro 256GB in Blue Titanium for Rs 8,000 above the MRP.

International Stocks at Indian MRP

Intriguingly, we discovered an online listing by a popular seller in New Delhi who was selling both internationally sourced models and Indian stock for as much as Rs 28,000 over the MRP. Another retailer in Thane, Maharashtra openly advertised selling the iPhone 15 Pro Max 1TB variant for Rs 2,32,000—Rs 32,000 above MRP.

It’s important to note that iPhone 15 Pro models in India are considerably more expensive than in countries like the US and UAE. For instance, the iPhone 15 Pro Max costs roughly Rs 1,00,000 in the USA, while it costs Rs 1,59,900 in India, a price difference of almost Rs 60,000. However, offline retailers are importing stocks from abroad and selling them for nearly the same price as their Indian counterparts, effectively nullifying the cost difference, all while attempting to evade taxes through so-called “cash deals.”

Retailers’ Justification

When asked about the price markup, one retailer in Karol Bagh told us, “The iPhone 15 Pro costs Rs 1,44,900, but we will charge Rs 5,000 over it.” He explained, “The models are selling at a premium price right now. There is no stock anywhere, so even if you buy accessories from us, you will still have to pay the Rs 5,000 markup.” He added, “If we talk about the Pro Max Natural, it will be at least Rs 20,000 over the MRP.”

Similar Situation in 2022

Interestingly, a similar situation occurred in 2022 when iPhone 14 Pro models were launched. However, this year, there is no COVID-related stock shortage or reported issues with Foxconn’s supply chain in China. Yet, there is a shortage of iPhone 15 Pro models, especially in major metropolitan areas where demand for the latest technology is exceptionally high.

On September 22, Smartkhabrinews Tech covered the live launch of the iPhone 15 series from the official Apple Store in Saket. We observed that users were primarily purchasing the iPhone 15 Pro models, showing less interest in the standard models—indicating a higher demand for the Pro variants.

Not All Retailers Are Involved

It’s worth noting that not every retailer is involved in this pricing malpractice. We visited an official third-party reseller in Jaipur to get a first-hand experience of their operations. We found that no premium was being charged for the stock, and they were not pushing overpriced accessories like tempered glass or cases with the devices. In fact, the standard iPhone 15 models were readily available, along with some color options for the smaller iPhone 15 Pro.