Apple has announced that they will increase App Store prices across some countries in Europe and Asia because their currencies weakening against the strong US dollar. These price increases will go into effect starting October 6th and will affect both in-app purchases and regular apps.
The countries that will be majorly affected include Sweden, South Korea, Malaysia, Egypt, Chile, Pakistan, Japan, and Vietnam. All of the European markets will also be affected except Montenegro. In the European countries, all of the apps that were priced at €0.99 will not see a 20% increase and will now be priced at €1.19. In Japan, however, the hike is much larger at 30 perfect. This hike is because the yen dropped to a 24-year low against the US dollar.
Apple has not yet explained why they are increasing the price of apps. Still, the euro and yen have known to be struggling against the strong dollar, which is why it is quite likely that the increase in pricing is because of inflation and rising energy costs, which is causing currency fluctuations.
Reuters reports that Apple is known to adjust the App Store pricing, which changes often, and recently saw a reduction of the base apps from €1.09 to €0.99 last year. However, the rise in prices does not shock everyone, considering the world’s economic situation.
These price hikes come just weeks after Apple announced the new iPhone 14 lineup and the Apple Watch Series 8 in markets worldwide. These phones come with a price hike as well, and the iPhone 14 will now be sold at £849 in the UK, whereas the iPhone 13 was released at £779 last year.
The price increase in Ireland is also noticeable as the iPhone jumped from €909 to €1019. Similar price jumps can be seen all across Europe and Asia as their currencies struggle against the dollar. According to analysts, the price hikes on the iPhones and the App Store are all because of the strong US dollar.