TOKYO (Reuters) – Apple Inc has hiked by nearly a fifth the cost of its flagship iPhone phone in Japan, which is battling a weakening yen currency and rising inflation.
The Cupertino, California-based manufacturer’s entry level iPhone 13 now costs 117,800 yen ($870), Apple’s website showed, compared to 99,800 yen previously.
With the dollar up 18% against the yen year-to-date, the higher cost of the iPhone, which dominates Japan’s smartphone market, comes as consumers’ wallets are being squeezed by price hikes for daily necessities.
Such widespread hikes are a change for most Japanese following years of stable prices for many products.
Apple did not immediately respond to a request for comment.