Apple resumes product sales in Turkey, increasing prices by 25%

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Apple recently closed its business in Turkey due to concerns about the sharp drop in the exchange rate of the Turkish lira and now a new report has claimed that the iPhone maker has resumed sales of products in the country.

According to MacRumors, Apple has also significantly increased the price of all of its products in the country as a result of inflation.

Customers purchasing the iPhone 13 Pro in Turkey will now be charged 19.999 TL, up from 14.999 TL earlier this week, the Apple Watch Series 7 at 5.399 TL, up from 4.399 TL, and AirPods Pro at 3.599 TL, up from 2.899 TL.

The Turkish lira crashed to a record low of 13.44 to the dollar earlier this week.

The Turkish lira is currently equivalent to approximately $0.078. It has depreciated by nearly 40 per cent this year and 20 per cent in the last week alone. In the past year, the lira has fallen by 45 per cent against the US dollar.

Turkey’s currency has been in a downward slide since early 2018 due to geopolitical tensions with the West, current account deficits, shrinking currency reserves.

There is no word on when Apple might resume sales in Turkey. Meanwhile, the inflation rate is close to 20 per cent, dramatically increasing the price of goods.

–IAN

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