Apple Reopens Online Store In Russia With Massive Price Increases On IPhone 6

Tim cook appleAPApple CEO Tim Cook.

Apple has reopened its online store in Russia, after closing it last week due to instability in the ruble. 

But Russian consumers logging onto the reopened store have discovered that the price of the iPhone has shot up during the downtime.

Computer World reports that the 16GB iPhone 6 now costs 53,990 rubles (around $US991). Before the store shut, it was priced at 39,900 rubles (around $US574). That’s a price increase of around 35%. 

Apple suspended online sales in Russia on Tuesday as the ruble plummeted in value against the dollar. If Apple had continued trading without adjusting prices, iPhones would have become so cheap in Russia that Apple would likely have lost money selling them. The ruble has dropped as Russia’s economy suffers from sanctions over its action in Ukraine and because its economy is dependent on the price of oil, which has also fallen in recent weeks.

The company said at the time that the store was down while it “reviewed pricing.”

Last month Apple raised the prices of its products by 25% in Russia to try and counter the ruble’s slide. And earlier this month, Apple told developers that it was increasing the price of apps in Russia, with app prices shooting up almost 100%.

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