Last Updated on: 26th June 2023, 07:59 am
Apple To Increase App Store Prices in Some Countries in Europe And Asia
Apple is increasing prices for apps and in-app purchases in some European and Asian countries starting 5th October, although auto-renewing subscriptions are exempt.
“Your product will be adjusted accordingly and priced based on the pre-tax price,” Apple said in a developer blog post on Monday (September 19). “If you offer subscriptions, you can keep the prices for existing subscribers.”
The new prices affect Japan, Malaysia, Pakistan, South Korea, Vietnam, Sweden, Poland, and all areas using the euro, as well as Chile and Egypt.
“In Vietnam, these increases also reflect new regulations that allow Apple to collect and remit applicable taxes, namely Value Added Tax (VAT) and Income Tax (IRS) at rates of 5% each,” the release reads.
The reason for the gains in other countries was not specified in the release but could be due to a combination of a strong dollar versus a weaker euro and yen, high inflation and interest rates, and a weak global economy.
According to a report by The Verge, price increases in the Euro market are around 20%, while price increases in Japan are around 30%. The yen recently fell to a new 24-year low against the US dollar.
The App Store price increases follow Apple’s decision to raise prices for the new iPhone 14 and Apple Watch Series 8 models in many markets outside the United States.
Also Read: Apple iPhone Hardware Subscriptions Could Arrive Later in 2022
Apple’s overall revenue growth slowed by 2% year over year to $83 billion; However, revenue from Apple’s services business, which includes the App Store, rose 12% to more than $19 billion, Some news media reported in July. That’s a slowdown from roughly 27% growth in the year-ago quarter.
Also Read: Apple iOS 16 Releasing Today – How it Will Change Your iPhone?
