iPhone 6 Price Leaps In Russia


The weakening Russian ruble has sent the price of Apple’s iPhone 6 through the roof. Online sales of the smartphone were halted temporarily in Russia, but it’s back on sale now, and Bloomberg reports that the price is 35% higher than it was previously.

Sign up for our free daily newsletter

Apple raises iPhone 6 prices… again

Klarman: Baupost’s Core Principles Have Helped The Fund Outperform

Seth KlarmanWhen Baupost, the $30 billion Boston-based hedge fund now managed by Seth Klarman, was founded in 1982, it was launched with a core set of aims. Q4 2021 hedge fund letters, conferences and more Established by Harvard professor William Poorvu and a group of four other founding families, including Klarman, the group aimed to compound Read More

This is the second time in less than a month Apple has increased the price of the iPhone 6 in Russia. The previous increase was 25%, reports CNET. The 16-gigabyte version is now priced at $956, or 53,990 rubles, according to Apple’s Russia website. The previous price was 39,990 rubles. The 128-gigabyte iPhone 6 is now priced at $1,265 or 69,990 rubles. The 128-gigabyte iPhone 6 Plus is now selling for $1,410 or 77,990 rubles.

Apple, other companies battle weakening ruble


Apple put a temporary hold on sales of the iPhone in Russia on Dec. 16. The company cited “extreme” fluctuations in the value of the ruble as the reason for the temporary suspension. This quarter alone, the ruble has lost approximately 30% of its value against the U.S. dollar. So far this year, the value of the U.S. dollar in Russia has climbed more than 70%, surpassing 56 rubles per dollar, compared to 32.9 rubles at the beginning of the year.

Tumbling oil prices and Western sanctions against Russia have weighed on the nation’s currency. As a result, any revenue Apple or other U.S. companies earn in Russia is worth less unless they increase their prices.

The importance of emerging markets for Apple

Apple has been seeing more and more of its revenue from emerging markets, just as many other Western companies have as well. However, analysts don’t say Apple’s exposure to Russia is all that large. Last year, sales of the iPhone doubled to 1.57 million units. The company generated $1 billion, according to Bloomberg, which cited data compiled by IDC. Through September, Apple had shipped 1.9 million iPhones to Russia, according to IDC.

Apple only sells the iPhone through its website in Russia and does not run any Apple retail stores there. The company’s products are still available in the country through third-party retail sellers, however.

Sign up for our free daily newsletter


Updated on

Michelle Jones is editor-in-chief for ValueWalk.com and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at [email protected]
Previous article NASA’s Black Hole Telescope Turned To The Sun
Next article Citron Research Targeted By Hong Kong’s SFC

No posts to display