• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Enterprise

Apple To Lower Prices Outside The U.S. To Boost Sales

Uloma Mary Omolaiye by Uloma Mary Omolaiye
January 30, 2019
in Enterprise, Gadgets
Share on FacebookShare on Twitter

In an attempt to boost sales of the iPhone, Apple Inc. has hinted its plans to reduce the prices of some iPhones outside the US, especially in China where the dollar has strengthened by 10%, thereby making the products much pricier than competitors.  Tim Cook, Apple Chief Executive made this disclosure after the company’s report on Tuesday, stressing the fall in iPhone sale during the last holiday shopping period.

Although Apple didn’t explicitly disclose which countries would be affected, shops in China have already begun adjusting prices to suit the market prices of other rivals. Apparently, the tech firm is trying to absorb the increasing value of the dollar to protect their customers from the drastic effect of the fluctuating currencies. Tim Cook, during an interview with Reuters, said:

“What we have done in January in some locations and for some products is essentially absorb part or all of the foreign currency move as compared to last year.”

The company’s new product, iPhone XS has its new price pegged at $999, the same price as that of its predecessor. Even though this could work within the US, where it has its major market, it’s likely to be a flop in countries like China, Turkey, and Nigeria where the US currency is strengthening over their local currencies. Whatever the firm decides, the Chief Financial Officer, Luca Maestri noted that the price adjustment is unlikely to extend to its other businesses which includes Apple music and App store.

The fear with Apple is not recent. The company experienced a deep fall in shares in October. This has consequently resulted in declaring the number of iPhones, iPads, and Macs it sold quarterly, seeing that consumers are getting less interested in Apple products, due to the increased prices for customers outside the US. Maestri said:

“Roughly 60% of our services business is outside the United States, and as you know, the U.S. dollar has appreciated in recent months. And in general, we tend not to reprice our services for foreign exchange on a frequent basis.”

However, amidst these falls, the company has proven to be resilient. The company declared over 4% gain on Tuesday in after-hours trade.

Nevertheless, the proven resilience doesn’t go past sales in China, and Turkey where the company has a large market. Sales has dropped significantly in these countries by over 25%.

Related Posts:

  • 1200×713
    Apple To Raise App Store Prices In Few Countries In…
  • Apple-logo
    Apple's Revenue Rises, But Misses iPhone Sales…
  • im-916944
    Report Has Shown Apple iPhone Sales Drop 19% For Q1 In China
  • Apple_new-iphone-se-black-white-product-red-colors_04152020
    Resilience Redefined: Why Morgan Stanley's 2015…
  • Apple Reports A Better Than Expected Q2 2023…
  • Apple-Intelligence-app-icon
    More Language Support For Apple Intelligence From April
  • Apple's Q3 Earnings Result Beat On Services Growth
  • a3e788c5d9b387116064b2f2f951a808_L
    Inflation, Russia-Ukraine War Forces A Cut In Phone…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: Applegadgetiphonetim cookunited states
Uloma Mary Omolaiye

Uloma Mary Omolaiye

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • NCC Requires Telecoms to Compensate for 24-Hour+ Outages May 26, 2025
    • Vietnam Will Soon block Telegram, App Owners are Surprised May 24, 2025
    • Widespread Downtime Reported By X Users May 24, 2025
    • MongoDB Enters Africa Through Nigeria Targeting $100B Digital Market May 24, 2025
    • Meta Quest’s Headgear Will Soon Support 3D Instagram Images May 24, 2025
    • Mozilla To Shut Down Pocket To Concentrate On Firefox May 24, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok