iPhone prices soar 35pc in Russia as Apple responds to ruble collapse

22 Dec 2014

The Apple iPhone 6

Consumer tech titan Apple has, for a second time in recent weeks, taken steps to counteract the plummeting ruble, raising 16GB iPhone 6 prices in Russia from €580 to €785.

Russia’s precarious economic position of late – the ruble has lost huge swathes of value on the global markets in a remarkably short space of time – comes amid plummeting oil prices and strict sanctions against the state following a series of global events that caused significant political tension.

This latest price hike from Apple follows a 25pc raise at the end of November, with company having also increased an internal exchange rate in its Russian App Store last week. Russia had boasted the cheapest iPhone 6 upon the product’s release earlier this year, prompting tourists to pick up the smartphone while visiting the country.

Only last week Apple had postponed online sales of its products in Russia following some concerns.

“Due to extreme fluctuations in the value of the ruble, our online store in Russia is currently unavailable while we review pricing,” Alan Hely, a spokesman for the company, said at the time. “We apologise to customers for any inconvenience.”

After taking the time to think it all over, Apple felt that such price hikes were the only way to maintain value in its products – the Californian company uses its price point as an integral aspect of its branding.

Gordon Hunt was a journalist with Silicon Republic