Apple Raising App Store Prices

As of next month, Apple Inc will raise prices for apps and in-app purchases in all eurozone countries, as well as some Asian and South American countries.

Apple said in a blog post that the new prices, excluding auto-renewable subscriptions, will take effect Oct 5.

US tech giant Apple periodically adjusts its prices in different regions, including lowering the starting price of many apps to 99 euro cents from 1.09 euro cents last year to adjust for currency and taxes.

The latest price rise increases those starting prices to 1.19 euros.

This year, inflation, interest rates, and energy prices have hammered the yen, the euro, and most emerging economy currencies. For weeks, the euro has been hovering around parity against the dollar, a two-decade low.

In Europe, the price increases will hit Sweden and Poland; in Asia, Japan, Malaysia, Pakistan, South Korea and Vietnam; and in South America, Chile.

The price increase was due to new regulations relating to collecting tax from consumers in some countries, such as Vietnam.

In order to reduce its dependence on its mainstay smartphones, Apple launched its latest generation of iPhones earlier this month.

In recent years, Apple’s services business, which includes the App Store, has grown rapidly and now generates around $20 billion per quarter in revenue.