Apple resumes online shopping in Turkey, but product prices increase by 25% due to heavy lira
Apple ‘s online store previously suspended sales of products in Turkey to avoid theimpact of large fluctuations in the exchange rate . It is now open to local consumers again, but the product prices have increased by an average of about 25% in response to the Turkish currency lira. The situation of a heavy depreciation of the U.S. dollar.
The technology website 9toMac reported that the local media Report found that Apple’s online store has resumed sales of products, but sold the products more expensively, without offering “Black Friday” discounts.
For example, the official website of the iPhone 12 mini is priced at 10,999 lire on the evening of the 25th local time in Turkey, but adjusted to 13,999 lire (approximately US$1,150) on the morning of the 26th. USD) is still high.
The iPhone 13 mini rose from 11,999 lire to 14,999 lire, an increase of 25%, which is higher than the 19.89% annual inflation rate in October indicated by official data.
Although Turkey’s inflation rate remains high, the country’s President Edoğan recently announced a low interest rate policy, which has caused economic turmoil because this approach is different from the traditional methods of most central banks that raise interest rates to curb demand and inflation.
After Edogan delivered a speech on the 25th to defend his unorthodox economic policy, the lira depreciated sharply against the U.S. dollar. In order to cope with the heavy fall of the lira that day, Apple’s online store suspended local sales in order to gain time to adjust product prices.