Apple to Lower iPhone Prices in Countries Affected By Strong U.S. Dollar

Apple to Lower iPhone Prices in Countries Affected By Strong U.S. Dollar

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Apple plans to lower iPhone prices in countries most affected by the strong U.S. dollar, according to CEO Tim Cook. The lower prices will likely help boost iPhone sales following a quarter than saw fewer iPhone shipments than originally expected.

“When you look at foreign currencies and then particularly those markets that weakened over the last year those (iPhone price) increases were obviously more,” Cook told Reuters. “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.”

Apple reported results today of $84.3 billion in revenue for fiscal Q1 2019, a decline of 5 percent from the year-ago quarter. Click here for the full report.

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Apple to Lower iPhone Prices in Countries Affected By Strong U.S. Dollar

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