Apple lowers some iPhone prices outside US to offset strong dollar
Company moves to curb weak global sales but did not say in which countries it would adjust prices
Apple plans to cut the price of some of its flagship iPhones for only the second time in the device’s 12-year history, pegging its retail value to past prices in local currencies outside the US instead of the rising US dollar. The move is an attempt to stem weak sales of the iPhone, particularly in overseas markets such as China, where a 10% rise in the US dollar over the past year or so has made Apple’s products — which already compete at the top end of the market — much pricier than rivals. Apple CEO Tim Cook disclosed the plan on Tuesday after the company reported the first dip in iPhone sales during the key holiday shopping period. The company has only once before cut iPhone prices, shortly after it debuted in 2007. Apple did not say in which countries it would adjust iPhone prices. Resellers in China already began cutting iPhone prices earlier in January after Apple lowered its sales forecast for the quarter ended in December. The company priced its new iPhone XS, which was rel...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.