Apple’s iPhone revenue has plunged in the December quarter, and the company is ready to make some changes.
According to CEO Tim Cook, Apple will reduce prices of the iPhone in markets where local currencies have weakened against the dollar.
“As we’ve gotten into January and assessed the macroeconomic condition in some of those markets, we’ve decided to go back to more commensurate with what our local prices were a year ago in hopes of helping the sales in those areas,” Cook told Reuters (via The Next Web).
“If you’ve never bought an iPhone outside of the U.S., you may not be aware of just how staggering the price difference is. I’ve been pointing it out over and over and over — it’s hard to justify spending $1,760 for a maxed-out iPhone XS (UK pricing at launch) when the exact same model costs $1,349 in the U.S. And it’s even harder in a country like Hungary, where the price is even higher and the average customer’s purchasing power is far lower than in the U.S.