Apple set to raise App Store prices from next month
Another day, another increase...
Apple is set to hike prices of apps and in-app purchases via its official App Store, with countries in Europe, Asia and South America all set to be imminently affected.
The increase will apply to every Eurozone country as well as Sweden, Japan, South Korea, Chile, Egypt, Malaysia, Pakistan and Vietnam. The price spike is expected to come into effect from Wednesday, 5 October.
In 2021, the company reduced prices for Eurozone countries to adjust for currencies and taxes, with many apps falling from €1.09 to 99 cents.
However, the forthcoming hike will see a jump to starting prices of €1.19.
Why? Well, you've probably figured that part out already. Inflation is, of course, to blame. The tech giant is now moving to respond to the rapid rise in the overall cost of living, with many currencies taking major hits in recent months, particularly the Euro, which has dropped to a two-decade low and is now on par with the American dollar.
Currently, Apple's revenue registers at approximately $20 billion per quarter.
“It is not the first time Apple is adjusting App Store prices, but this hike is a pretty hefty one,” Tokyo-based analyst Serkan Toto told Bloomberg.
"It’s inevitable the price adjustment will be felt by app and game developers in the markets affected. People might be more hesitant to make in-app purchases now than ever, and developers might be forced to get more creative in terms of pricing in the future."