Apple Inc. announced on Tuesday that starting in select countries in Asia and South America as well as the entire eurozone, prices for apps and in-app purchases on its App Store will increase.
The higher costs, excluding subscriptions that automatically renew, will take effect as of October 5, according to a blog post by Apple.
The American software giant often modifies its prices for various locations. Last year, it decreased prices for nations in the eurozone to account for taxes and exchange rates, bringing many apps’ beginning prices down from 1.09 euros to 99 cents.
This beginning pricing now cost 1.19 euros due to the most recent price increase.
The yen, the euro, and the majority of developing economy currencies have all suffered this year due to a sharp increase in inflation, interest rates, and oil prices. This year, the euro hit two-decade lows and has been stuck at or near parity with the dollar for several weeks.
The price increases will also affect nations outside the eurozone, including Chile in South America, Sweden and Poland in Europe, Japan, Malaysia, Pakistan, South Korea, and Vietnam in Asia.
According to Apple, the price hike for some nations, such as Vietnam, was brought on by new rules governing the taxation of consumers.
To lessen reliance on its bestselling devices, Apple, which unveiled its newest generation of iPhones earlier this month, has been growing its services business.
In the past few years, Apple’s services division, which includes the App Store, has seen a sharp increase in revenue, which now totals about $20 billion per quarter.