Apple lovers in some Asian countries to pay more for iPhone 14

[ad_1]




Inc on Wednesday kept prices for its latest stable in the United States, but raised prices in some Asian countries where currencies have dropped against the dollar in the past year.


Buyers of the basic 14 in – where the yen has slumped 24% since September – will pay 20% more than they did for the 13 when it was launched a year ago at 99,800 yen ($692.81).


The iPhone 13 currently costs 107,800 yen in . Earlier this year, hiked the price of the model by nearly a fifth to 117,800 yen after the yen weakened.


The dollar’s strength is the biggest risk to Apple’s earnings, Credit Suisse analysts wrote in a note.


“Demand for remains strong in the U.S. and Europe, while is likely under pressure given recent price increases and limited subsidies,” they said.


Shares of Apple were trading slightly lower amid a decline in the broader market.


In China, though, Apple’s third-largest market after the United States, the company priced the iPhone 14 at 5,999 yuan ($862.42) – the same as the iPhone 13 launch price – despite a 7% drop in the currency.


Analysts have said Apple should brace for a weakening of demand in China, where the economy has been hurt by a series of COVID-19 lockdowns that have squeezed consumer spending.


Apple’s April-June quarterly revenue in Greater China fell 1% after a streak of strong quarters in the region.


The company had previously announced discounts on iPhones in China, where the iPhone 13 is now available at 5,399 yuan.


($1 = 144.0500 yen)


($1 = 6.9560 Chinese yuan renminbi)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



[ad_2]

Source link

Comments are closed.