Tim Cook: Apple to lower prices in some markets with fluctuations

Baku. 30 January. REPORT.AZ/ Apple will be lowering iPhone outside of the United States, to bring prices more in line to what they were before recent currency fluctuations hit, company CEO Tim Cook said.

Report informs citing Reuters that the company priced its new iPhone XS, which was released in September, at $999, the same price in U.S. dollars as its predecessor, 2017’s iPhone X. That worked for U.S. consumers, but in countries such as China and Turkey the local currency had fallen so much against the surging U.S. dollar, it made the phone significantly pricier than its predecessor a year before.

The move is an attempt to stem weak sales of the iPhone, particularly in overseas markets such as China, where a 10 percent rise in the U.S. dollar over the past year or so has made Apple’s products - which already compete at the top end of the market - much pricier than rivals.