Apple hikes iPhone and iPad prices in Japan after yen tanks


Apple added as much as 25% to the cost of its mobile gadgets in Japan, taking the iPhone 13’s starting price up to 117,800 yen (RM3,843). — AFP

Apple Inc raised the prices of its iPhones and iPads in Japan in an uncommon move to account for the yen’s precipitous drop in value this year.

The Cupertino, California-based tech giant added as much as 25% to the cost of its mobile gadgets in the country, taking the iPhone 13’s starting price up to 117,800 yen (RM3,843). It increased the prices of its iPad and iPad Air by 10,000 yen (RM326) each, according to checks with Apple’s local website.

Apple joins a growing list of retail brands from Asahi Group Holdings Ltd to Lawson Inc that are hiking consumer prices in Japan to contend with soaring production costs, compounded by a weakening local currency. Apple’s move may presage hikes from other makers of consumer electronics.

Apple already raised prices of its MacBook computers by more than 10% in June, though that change was accompanied by the launch of new models. It’s making steeper increases with its mobile devices and doing so at a time when no new releases are expected for several months. Company representatives didn’t immediately respond to a request for comment.

With wage growth still anemic, retailers in Japan have long been reluctant to raise sticker prices for fear of scaring off customers accustomed to years of deflation. Now that’s starting to change, with everything from the price of beer and soy sauce, to fried chicken nuggets and burgers, starting to climb as businesses pass on costs to shoppers. The yen broke through its 24-year low against the dollar last month as risk assets rebounded, heaping more pressure on retailers.

The Nikkei first reported on Apple’s price hikes. – Bloomberg

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Tech News

Thai central bank to get more powers in crypto law overhaul
Crypto mixer Tornado Cash’s accounts are disabled after US sanctions
Apple Pay now available in Malaysia
How doomscrolling could be bad for your mental health
Climate deniers use past heat records to sow doubt online
Doctor in SG gets 13 weeks' jail for filming clinic assistant showering at work
Snap launches tools for parents to monitor teens’ contacts
Google search outage affects tens of thousands of users
Snap plans to lay off employees- The Verge
Man in SG jailed 10 months for role in scam that used voicemails to gain access to WhatsApp accounts

Others Also Read