“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.
Apple halts online sales in Russia over cratering ruble – December 16, 2014
Apple could swallow the entire Russian stock market whole – November 14, 2014