Apple To Reduce IPhone Prices To Increase Sale

Apple did not say in which countries it would adjust iPhone prices.

Lahore (UrduPoint / Pakistan Point News – 30th January, 2019) mobile manufacturing company Apple plans to cut the price of some of its flagship iPhones to increase its sale.

This will only be the second time in the device’s 12-year history that its value will be decreased. The company has only once before cut iPhone prices, shortly after it debuted in 2007.

The move is an attempt to stem weak sales of the iPhone, particularly in overseas markets such as China, where a 10 per cent 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 Chief Executive Tim Cook disclosed the plan on Tuesday after the company reported the first-ever dip in iPhone sales during the key holiday shopping period.

Cook said Apple will adjust foreign prices in some markets by resetting them at or close to what they were one year before in local currencies.

Effectively that means Apple will absorb the cost of the strengthening dollar.

“We’ve decided to go back to (iPhone prices) more commensurate with what our local prices were a year ago, in hopes of helping the sales in those areas,” Cook told Reuters in an interview.

Apple did not say in which countries it would adjust iPhone prices.

The company priced its new iPhone XS, which was released in September, at $999, the same price in US Dollars as its predecessor, 2017’s iPhone X.

That worked for US consumers, but in countries such as China and Turkey the local Currency had fallen so much against the surging US dollar, it made the phone significantly expensive.