UPDATE: After the halt of product sales in the country, Apple’s normal sale operations have resumed in Turkey, as of today. However, as we predicted before, there are significant price increases. Apple prices in Turkey increased by around 25 percent. According to Apple’s website, some of the current prices:
|Product||Old Price||New Price||Change|
|iPhone 13 mini (128 GB)||10999||13999||+27.28%|
|iPhone 13 Pro (128GB)||15999||19999||+25%|
|iPhone 12 (64 GB)||10999||13999||+27.28%|
|iPhone 11 (64 GB)||7999||10999||+37.50%|
|iPad mini 64 GB Wi-Fi||5799||7199||+24.14%|
|iPad Air Wi-Fi||6399||7999||+25%|
|Watch 7 (from)||4399||5399||+22.73%|
|MacBook Pro 13 Inc (from)||14299||17499||+22.37%|
|MacBook Air 256 GB (from)||10999||13499||+22.72%|
In Turkey, there is so much volatility in the exchange rate for the Turkish lira that companies are having trouble determining how to price their items. Apple has currently suspended sales from its Turkish website. You cannot, currently, buy iPhones, iPads or MacBooks online from Apple. The exchange rate between the Turkish lira and the dollar has gotten so bad that, most recently, the dollar is worth more than 13 Turkish lira. The lira fell 9% on Tuesday alone – it has lost more than 23% to the dollar over the past month.
From Apple’s Turkish website, apple.com.tr, if you try to make a purchase, you can select all options, however, the “Continue” button is grayed-out and so you cannot continue making the purchase. Here is a shot from the Apple Turkey website:
Compare this with the US Apple website:
The Turkish lira is one of the most volatile currencies in the world. Just a couple of weeks ago, the lira was around 9 lira to the dollar, but has plummeted against the US dollar, the euro, and other world currencies. The lira has dropped dramatically in value over the last several months. This has been fueled by the concerns of investors and savers over premature monetary easing and inflation – which is close to 20%.
Turkey has had trouble with its currency for years now. Recently, President Erdogan lowered interest rates in order to fight rising prices. It is believed that his speech defending the rate cuts are a major factor contributing to Tuesday’s plunge. Many Turks are extremely concerned about their savings. Some are looking to invest in cryptocurrencies rather than continue with their Turkish investments.
The sales from the Turkish Apple site should resume after the appropriate adjustments to the prices can be made.