Apple Temporarily Halts Online Sales in Russia Due to 'Extremely Sharp' Ruble Fluctuations

Apple has temporarily halted online sales in Russia due to fluctuations in the value of the ruble, reports Bloomberg. The online store will be down until Apple is able to revise its prices in the country.
"Our online store in Russia is currently unavailable while we review pricing," Alan Hely, a spokesman for the Cupertino, California-based company, said today in an e-mailed statement. "We apologize to customers for any inconvenience."
Similarly, an Apple spokesperson told Russian site Lenta.ru that the store was offline due to "extremely sharp" fluctuations of the Russian ruble.

russiaiphoneprices
As of right now, the Apple Online store for Russia is down, displaying Apple's typical "We'll be back" message that is offered when a store is taken offline. It is not clear how long it will take to make the pricing adjustments.

Due to the weak Russian ruble, the iPhone 6 and 6 Plus in Russia were priced much lower than in other European countries. Ahead of the store closure, the 16GB iPhone 6 was priced at 39990 rubles, equivalent to €447 or $558. The 16GB iPhone 6 Plus was priced at 46990 rubles, or €550/$681. In many other European countries, the 16GB iPhone 6 and 6 Plus are priced closer to €700 ($876) and €800 ($999), respectively.

This is the second time in recent weeks that Apple has had to adjust pricing in Russia. Last month, Apple increased the price of the iPhone 6 by 25 percent in the country. The ruble fell as much as 19 percent today to exceed 80 per dollar before rebounding somewhat. The ruble is down roughly 50 percent against the dollar this year.


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20 months ago

And Putin officially lost the support of Russian hipsters.


I think he lost that when he jailed the ***** riots. Still, I hope the crash of the rubble helps to wake him up to the reality that this aint the cold war and that he cannot bully us around anymore.

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I think he lost that when he jailed the ***** riots. Still, I hope the crash of the rubble helps to wake him up to the reality that this aint the cold war and that he cannot bully us around anymore.


MacRumors censored the name of a russian all female band. LOL
Rating: 12 Votes
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20 months ago
And Putin officially lost the support of Russian hipsters.
Rating: 12 Votes
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20 months ago
I guess I'll be the first here to make the request that this gets moved to PRSI, because this is easily going to go down the road of Putin/Russia vs. the Western World, and the economics of that.

In short, this thread is going to go downhill.

BL.
Rating: 10 Votes
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20 months ago
Hey, Putin...

...how's that Ukraine invasion working out for you?
Rating: 8 Votes
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20 months ago
How quick they react to weak currencies compared to the dollar, but when a currency gets stronger I doubt they feel the need to rush anything.

Glassed Silver:mac
Rating: 7 Votes
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20 months ago
This won't just be Apple, many other international retailers will follow suit. The currency has crashed hard, it rarely happens to such a big economy. We might gloat but if Russia goes through another devaluation like in the 90s it could tip the whole world back into recession

But in better news, hey, the Apple store gif is mesmerising. Can you name all 18 languages?

Rating: 6 Votes
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20 months ago

In other real news, people rushed the stores to buy all available devices with crashed currency at slow to change prices. Can you say 60% off? Russians are not stupid, only the management is.


It's not "60% off" for Russians.

Say the price was X rubles, and Apple exchanged that into $600 and thought that was a fair price. And today X rubles are only $500 and Apple doesn't want to sell for that price. For the Russian customer it's still the same X rubles. The same percentage of their salary, the same whole in the pocket.
Rating: 5 Votes
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20 months ago
In other real news, people rushed the stores to buy all available devices with crashed currency at slow to change prices. Can you say 60% off? Russians are not stupid, only the management is.
Rating: 4 Votes
Avatar
20 months ago

How quick they react to weak currencies compared to the dollar, but when a currency gets stronger I doubt they feel the need to rush anything.

Glassed Silver:mac


Prices haven't been adjusted in Japan recently for the ever weakening yen. The reason they are doing this quickly in Russia is because of the scale of fluctuations.

And thanks for your guess at what apple would do in the reverse. In fact, what large companies want is stability and what they don't want is risk. Unless Apple has started a side line of taking positions on foreign exchange movements, you can expect that they would be moving just as fast if the currency fluctuated rapidly in the other direction. They would have much of their foreign currency transactions hedged anyway.
Rating: 4 Votes
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20 months ago

Hey, Putin...

...how's that Ukraine invasion working out for you?


Heh, yeah, Crimea river.
Rating: 3 Votes
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