Apple to raise prices of App Stores in countries, including Pakistan
Apple Inc said on Tuesday it will raise the prices of apps and in-app purchases in its App Store in the eurozone and some countries in Asia and South America starting next month. The new pricing, excluding auto-renewing subscriptions, will go into effect as early as October 5, Apple said in a blog post.
The American tech giant regularly adjusts its prices in different regions and last year reduced prices for Eurozone countries to align with currencies and taxes, reducing launch prices for many apps by 1. 09 euro at 99 cents. The recent price hike pushes those entry-level prices up to 1.19 euros. Rapid increases in inflation, interest rates, and energy prices this year have affected the yen, euro, and most emerging market currencies. The euro has fallen to its lowest level in two decades this year and has been hovering around parity with the dollar for weeks.
Apple to raise prices of App Stores in countries, including Pakistan
In addition to the euro zone countries, the price increases in Europe will affect Sweden and Poland; Japan, Malaysia, Pakistan, South Korea, and Vietnam in Asia; and Chile in South America. For some countries like Vietnam, the price hike is due to new regulations related to collecting taxes from consumers, Apple said. Apple, which launched its latest-generation iPhone earlier this month, has evolved its services business to reduce reliance on its flagship smartphones. Revenue from Apple’s Services business, which includes the App Store, has grown rapidly in recent years and now stands at around $20 billion per quarter.
