Apple raises iPhone prices anew in Russia after rouble falls

The rouble has lost about 30 per cent versus the dollar this quarter amid falling oil prices and economic sanctions against Russia, making the revenue Apple and other US companies earn in the country worth less in dollars.

Apple raised iPhone prices in Russia by 35 per cent, its second increase in less than a month to account for the ruble’s plunge against the US dollar.

An iPhone 6 with 16 gigabytes of memory now costs 53,990 roubles ($956), Apple said today on its Russia website. The previous official price was 39,990 roubles, though Apple had halted online sales in Russia on December 16, citing “extreme” rouble fluctuation.

The ruble has lost about 30 per cent versus the dollar this quarter amid falling oil prices and economic sanctions against Russia, making the revenue Apple and other US companies earn in the country worth less in dollars. Global consumer brands including Samsung and Cie. Financiere Richemont’s Cartier have also boosted Russia prices.

For Russians, the rouble’s decline is making foreign goods from electronics and cars to food and clothing more expensive. The price of the US dollar in Russia has risen more than 70 per cent this year, from 32.9 roubles at the beginning of January to more than 56 roubles on Monday.

Apple had raised prices in Russia by about 25 per cent at the end of November. With the latest increase, the iPhone’s price in roubles has risen 69 per cent in less than a month.

The Cupertino, California-based company also increased an internal exchange rate in its Russian App Store last week, making basic applications cost 62 roubles versus 33 roubles previously, according to the Tass newswire.

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Published: December 22, 2014 04:00 AM

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