Despite posting the highest quarterly profit in corporate history this week, Apple still disappointed analysts with its growth outlook.
CEO Tim Cook blamed a lot of this on the global economic outlook.
“Our results are particularly impressive, given the challenging global macroeconomic environment,” Cook said. “We’re seeing extreme conditions unlike anything we’ve experienced before just about everywhere we look.”
Cook called out Australia – twice – as an example of a market being affected by slowing global economic growth, falling commodity prices, and the weakening of its currency.
He noted that “major currencies such as the Canadian dollar, Australian dollar, Mexican peso, and Turkish lira have declined 20% or more.”
As a reminder, here’s what that has looked like for the Australian dollar.
This is having a direct impact on Australian consumers, with Apple products soaring in price over the past two years as the buying power of the local currency has fallen.
This is what you paid for some key Apple products in 2014:
- Macbook Air 11-inch: $1099
- iPad Air 2: Started at $619 for 16GB Wi-Fi model, up to $1019 for 128GB cellular
- iPhone 6: $869 for 16GB, $999 for 6 Plus 16GB
- 21.5-inch iMac: starting at $1,349
- Mac Pro: starting at $3999
And now this is what you’re paying for those same products in 2016.
- MacBook Air 11-inch: $1399
- iPad Air 2: $699 for 16GB Wi-Fi model and $1,119 for 128GB cellular
- iPhone 6s: 16GB from $1079 and $1229 for 16GB 6s Plus
- 21.5-inch iMac: starting at $1699
- Mac Pro: starting at $4899
Clearly, some of this is currency-induced inflation at work, especially when you see that the same products in the US have not had any price increases.
The Apple Watch which came out in March 2015 is the only product not to change, keeping its three key price points the same – $499 for Sport, $799 for Watch and $14,000 for the gold Edition model.
Interestingly, the 27-inch 5K iMac actually dropped in price, going from $2,999 to $2,799.
We left out the Apple TV as the new model is a different beast that offered in 2014. Regardless, the price differences help illustrate the pressures that the shifts in the global economic picture are placing on both consumers and companies.
Apple Australia didn’t want to comment on the price changes, but pointed us to Tim Cook’s comments above as a reflection of the market.