Pages

Apple Raises Prices Of New iPhone 14 Series In Key Global Markets But Fails To Do The Same In The US

In case you didn’t know, the iPhone 14 was launched on Wednesday and its price tag certainly shocked so many people around the globe.

The Cupertino company raised the price of the device across several key markets in the world but it failed to do so in the US.

The news is definitely worrisome for many during a time like today when inflation is in full swing and recession is also taking place similarly in different economies. Hence, Apple was definitely in the spotlight as many wanted to know just how much it was willing to price the device on Wednesday.

A total of four different iPhone models were launched at the event and a major shock came in terms of how the price was the same in the US but remarkably different elsewhere. By that, we mean the same price for iPhone 13 was being charged for iPhone 14 in the US, which is $799. And yes, even the iPhone 14 Pro Max is the same as its predecessor from last year.

But it was very disappointing for many to see how that didn’t stand true for different markets in the world, where prices were much higher. Hence, many feel this is a new test for consumers around the globe in terms of their appetite for electronics.

Countries, where the price hike was noticed included Japan, the United Kingdom, and Germany. And the better the model got, the steeper its price became. But why was a serious question on so many people’s minds?

According to analysts, it had to do with a rise in component costs and how the US dollar value was undergoing appreciation against different currencies, where Apple raised the prices.

Recently, the British Pound had fallen to a new low and the same was seen with the Japanese Yen. The Euro stands at par with the US Dollar. Interestingly, the price for the device stayed the same in China, which is dubbed to be an integral competitive market for such purchases.

During Q2 of 2022, we saw regions near China like Hong Kong and even Thailand turn into major hubs for sales of Apple devices.

The iPhone 14 is currently priced at 5999 Yuan while the Pro Max begins at a value of 8,999 Yuan.

China saw COVID-19 infection spike again this year and since there is a zero-tolerance policy for such conditions, strict lockdowns were also enforced in the nation’s leading cities like Shanghai and Chengdu. And as you can imagine, the impact on consumers and the economy has been major.

Meanwhile, tech analysts predict that the smartphone market in the nation would decline by 13% this year, a massive fall involving nearly 300 million shipments of tech devices. The last time such news broke was nearly a decade ago in 2012.

Therefore, it’s not a surprise to see Apple keep prices steady there because it knows that times have been tough in the nation and the fact that its market is important strategically means it is not willing to compromise one bit.


Read next: What’s the Best Fast Charger on the Market? Here’s What We Found

No comments: