Apple has confirmed it will slash the price of the iPhone in certain markets, though it wouldn’t be drawn on exactly where, when or by how much.
CEO Tim Cook was speaking after the firm’s revenue from iPhones dropped 15 per cent this year. As a result, the firm is reevaluating its pricing.
It has already cut the price of the iPhone XR in Japan.
In an interview, Cook said: “When you look at foreign currencies and then particularly those markets that weakened over the last year those (iPhone price) increases were obviously more.
“And so 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 blamed the strength of the dollar for low iPhone sales internationally, as it makes the device seem pricier in foreign markets.
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He added that emerging markets have suffered the biggest price discrepancies with new iPhone models.
Since January, Apple has absorbed “part or all” of the foreign currency price changes, Cook said.
Hence the prices of the new phones are equal or thereabouts to the local price at this time last year.