The technology giant Apple informed developers of an upcoming price hike on the App Store, which will take effect next month. The change includes apps and in-app purchases across App Store; the prices will increase in Chile, Egypt, Japan, Malaysia, Pakistan, Poland, South Korea, Sweden, Vietnam, and all territories that use the euro currency.
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Apple’s blog post said the new prices will be effective as early as October 5, but won’t include auto-renewable subscriptions for the time being. The post also mentions that once the price changes take effect, the Pricing and Availability section of My Apps will be updated. Developers can choose to maintain prices for existing subscribers and continue to set prices for their apps and in-app purchases.
Apple reduced the prices in the countries that use the euro last year, making the starting prices for apps 99 euro cents, from 1.09 euros. The updated prices will see the starting prices on the App Store starting from 1.19 euros.
The euro has been facing high inflation and increasing interest rate; the currency also recorded record lows in the last few months, even losing significant value against the US dollar.
Apple recorded $19.4 billion in profit and $83 billion in net revenue in Q3 2022.
