Apple to raise App Store prices in some countries in Europe, Asia
Reuters
Published Sep 19, 2022 11:17PM ET
Updated Sep 20, 2022 03:56AM ET
(Reuters) -Apple Inc said on Tuesday it will raise prices of apps and in-app purchases on its App Store from next month in all of the euro zone and some countries in Asia and South America.
The new prices, excluding auto-renewable subscriptions, will be effective as early as Oct. 5, Apple (NASDAQ:AAPL) said in a blog post.
The U.S. tech giant periodically adjusts its prices in different regions and reduced prices for euro zone countries last year to adjust for currencies and taxes, dropping https://itunespartner.apple.com/assets/downloads/072821-Apps-Pricing-SAfr-UK-EUR.pdf starting prices for many apps to 99 euro cents from 1.09 euros.
The latest price rise increases https://developer.apple.com/support/downloads/price-tier-updates/App-Store-Price-Tier-Updates-October-2022.pdf those starting prices to 1.19 euros.
A rapid rise in inflation, interest rates and energy prices this year has hammered the yen, the euro and most emerging economy currencies. The euro has dropped to two-decade lows this year and has been languishing around parity against the dollar for weeks.
Apart from euro zone countries, the price increases will hit Sweden and Poland in Europe; Japan, Malaysia, Pakistan, South Korea and Vietnam in Asia; and Chile in South America.
For some countries like Vietnam, the price increase was due to new regulations relating to collecting tax from consumers, Apple said.
Apple, which launched its latest generation of iPhones earlier this month, has been developing its services business to reduce dependency on its mainstay smartphones.
Revenue from Apple's services business, which includes the App Store, has been growing at a rapid pace in the last few years and now hovers around $20 billion per quarter.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.