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Apple is hiking App Store prices in these regions, Here's why
21 Sep, 2022 / 04:46 AM / OMNES Media LLC

Source: http://www.masahble.com

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Mashable: Apple said in a blog post that the higher rates will be implemented as early as October 5 for everything but automatically renewing subscriptions.

Apple announced on Tuesday that starting next month, rates for apps and in-app purchases on the App Store would go up in all countries inside the eurozone as well as select countries in Asia and South America.

Apple said in a blog post that the higher rates will be implemented as early as October 5 for everything but automatically renewing subscriptions.

The Cupertino tech giant often changes prices in different places, and this year it lowered prices for eurozone nations to account for currencies and taxes, cutting the beginning prices for numerous applications to 99 euro cents from 1.09 euros.

The most recent price hike brings the baseline cost to 1.19 euros.

The yen, the euro, and other emerging country currencies have taken a beating this year due to the quick increase in inflation, interest rates, and oil costs. The euro has hit 20-year lows versus the dollar this year and has been stuck at parity for weeks.

The nations of Sweden and Poland in Europe, Japan, Malaysia, Pakistan, South Korea, and Vietnam in Asia, and Chile in South America will all see price hikes in addition to those in the eurozone.

Apple explained that in countries like Vietnam, where new policies were implemented to collect tax from consumers, a price hike was necessary.

Apple, which just released its newest iPhones earlier this month, has been expanding its services business in an effort to lessen its reliance on its flagship devices.

Services revenue for Apple, which includes App Store sales, has been on the rise in recent years and currently accounts for roughly $20 billion every quarter.