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Apple is raising its app store prices by about 33.6 percent

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January 19, 2017

Two days ago, Apple has confirmed to app developers that it's hiking its app store costs by about 33.6 percent.

The company said the reason of its decision is to counter any downward currency swings in the British pound since the Brexit vote in June 2016.

“When calculating foreign exchange rates, we sometimes need to update prices on the App Store. Price for app and in-app purchases (excluding subscriptions) will increase in India, Turkey, and Britain” the letter to the app developers stated.

The price boost in India and Turkey is related to a service tax rate change, said Apple, but in Britain the reason is the drop in the local currency, which yesterday fell against the US dollar to a 31-year low of $1.20 to £1.

British prime minister Theresa May outlined the sort of Brexit the people of Britain can expect-- hard but with a soft centre.

Given the general state of uncertainty in the country, the British pound could depreciate further soon, but the people at Apple have spared consumers those worries by stretching its price rise early to meet that possible outcome.

Apple said in a statement: “Price tiers on the App Store are set internationally on the basis of several factors, including currency exchange rates, business practices, taxes, and the general cost of doing business. These factors vary from region to region and over time."

In the recent past, Apple increased the price of computers by about 20 percent in October, and right across the IT industry, companies from Dell to HP, Lenovo, Asus and Microsoft have also reacted to the currency movement. It will be interesting to see in 2017 what the outcome of the British pound will hold in store for consumers after President-elect Donald Trump takes over the Whitehouse beginning tomorrow.

Source: Apple.


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