New Delhi: For only the second time in the 12-year history of iPhones, Apple Inc is planning to bring down the price of some of its flagship devices outside the United States. The move has been made in an attempt to boost iPhone sales, especially in markets such as China, where a 10 percent increase in the US dollar last year had made the tech giant's products more expensive than rivals.
Following Apple's first-ever drop in iPhone sales during the key holiday shopping period, Chief Executive Tim Cook announced the plan. Just once before has Apple cut iPhone prices, soon after debuting in 2007.
"We've decided to go back to (iPhone prices) more commensurate with what our local prices were a year ago, in hopes of helping the sales in those areas," Cook said.
Apple did not specify the countries in which they planned to cut iPhone prices. After Apple lowered its sales forecast for the quarter ended in December, resellers in China already started reducing iPhone prices earlier this month. The tech giant has also not mentioned when or how often it might reset its prices due to foreign currency changes.
The iPhone XS, which was launched in September, was priced at US$ 999, the same price as 2017's iPhone X.
Apple will adjust foreign prices in some markets by resetting them at the same price, or close to what they were a year before, in local currencies, Cook added. This means Apple will absorb the cost of the strengthening dollar.