Apple Raises Prices of iPhones And iPads In Japan as Yen Falls to Its Lowest Against The US Dollar

With a 25% addition to the costs of iPhone, currently the starting price of iPhone 13 is almost 117,800 yen.

In an unprecedented move, Apple has hiked the prices of iPhones and iPads in Japan as the yen is on track to its biggest annual drop since 2013.

As per the local website of the California-based tech giant, the cost of iPad and iPad Air has increased by 10,000 yen each. With a 25 percent addition to the prices of its mobile devices in Japan, currently the starting price of iPhone 13 has gone up to almost 117,800 yen.

The company, with the introduction of new models had already raised prices of MacBook computers in June by almost 10%.

Japan Apple

Apart from Apple, retail brands of Asahi Group Holdings and Lawson have also jacked up prices to withstand the ever-rising production costs made worse by a debilitating currency, Bloomberg reported.

It is believed that the tech giant's decision could encourage other consumer electronic companies to opt for the same. This steep increase in the prices of Apple's products is happening at a time when there are no new launches scheduled for the coming months.

The Japanese yen fell to its lowest against the US dollar last month with 'risk assets rebounding,' pressurizing retailers.

Japan Apple

Afraid of scaring off customers familiar with years of deflation, these retailers are unwilling to raise sticker prices amidst 'anaemic' wage growth in the nation.

However, a change has been observed recently with the prices of everything from soy sauce to beer and fried chicken to burgers beginning to rise, as the cost has been passed onto the consumers by businesses.