Apple increases iPhone prices in Russia by 35%

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

An iPhone 6 with 16 gbytes of memory now costs 53,990 rubles ($956), Apple said on its Russian website.

The previous official price was 39,990 roubles, though Apple had halted online sales in Russia last week, citing “extreme” rouble fluctuation.

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.

Global consumer brands including Samsung and 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 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 currently.

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.

Bloomberg