A few days ago, Turkey suffered a significant depreciation of its currency, which the one I had experienced all year is added, and that at the moment it seems that it has no view of stopping. In a move that attracted considerable attention, Apple decided to stop selling its products in the country until the currency stabilized.
Although the situation has not improved, in Apple they cannot have the Apple Store open without selling any of their products, so they have decided restart sales, but with a significant price increase of their products, according to the Turkish news agency Report.
The price increase stands at 25% on average, a gigantic price rise, which is due to the devaluation of the lira against the US dollar, so that Apple products were sold for much less than what would be paid for these products in any country in the world.
The price increase is intended to level the exchange price field with the US dollar, and thus compensate for the fall of the currency. Since the beginning of 2021, the Turkish lira has fallen by 80%. At the moment, it seems that the Turkish president has no plan to change the situation and the cuts that have been made in recent months will continue to apply.
While it is true that customers can continue to buy Apple products in the country, the 25% price increase, without the salaries of the employees having been increased, will greatly reduce Apple’s sales in the country.