“Apple Inc. raised iPhone prices in Russia by 35 percent, its second increase in less than a month to account for the ruble’s plunge against the U.S. dollar,” Ilya Khrennikov reports for Bloomberg. “An iPhone 6 with 16 gigabytes of memory now costs 53,990 rubles ($956), Apple said today on its Russia website. The previous official price was 39,990 rubles, though Apple had halted online sales in Russia on Dec. 16, citing ‘extreme’ ruble fluctuation.”
“The ruble has lost about 30 percent versus the dollar this quarter amid falling oil prices and economic sanctions against Russia, making the revenue Apple and other U.S. companies earn in the country worth less in dollars,” Khrennikov reports. “The price of the U.S. dollar in Russia has risen more than 70 percent this year, from 32.9 rubles at the beginning of January to more than 56 rubles today.”
Khrennikov reports, “Apple had raised prices in Russia by about 25 percent at the end of November. With the latest increase, the iPhone’s price in rubles has risen 69 percent in less than a month.”
Read more in the full article here.
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Apple will have to scale prices noticeably back since the currency has significantly recovered since last week, when USD peaked at 75 roubles in trading; now the price is about 54, 38% down from last week. Under current price iPhones are less competitive than they were couple of months ago before oil prices/currency have started significant shifts. Now iPhones are overpriced.
Since two months ago Apple prices are up 78%, while the currency (Euro, which is basis for European sales) is up 38%.
Oh what a gay day for Comrad Putin.
At least he’s a ‘Bear’…
Feel so sorry for the Russian folk have to suffer this dictator.
Putin is not a dictator, he is authoritarian leader of the corrupt oligarchate that was initiated by Yeltsin and become greatly stronger under Putin.
Unlike authoritarian ruling, dictators literally dictate their personal will on all things big and small (like Stalin, for example). Putin’s regime is much milder than that.
For comparison, leadership of Turkey is also authoritarian, but a little closer to dictatorship since Erdogan directly intervenes in various matters.
Dictator. You mean like the brothers Castro?
They are not dictators either, they do not dictate every thing big or little there. North Korea is en example of actual dictatorship.
..As long Apple hasn’t to add 1 or two zeros every morning queuing at the end of yesterdays prices, like it was in Germany during the twenties…