Apple Inc said on Tuesday it will raise prices of apps and in-app purchases on its App Store from next month in all of the eurozone and some countries in Asia and South America.

The new prices, excluding auto-renewable subscriptions, will be effective as early as Oct 5, Apple said in a blog post.

The United States tech giant periodically adjusts its prices in different regions and reduced prices for eurozone countries last year to adjust for currencies and taxes, dropping starting prices for many apps to 99 euro cents from 1.09 euros.

The latest price rise increases those starting prices to 1.19 euros.

A rapid rise in inflation, interest rates and energy prices this year has hammered the yen, the euro and most emerging economy currencies. The euro has dropped to two-decade lows this year and has been languishing around parity against the dollar for weeks.

Apart from eurozone countries, the price increases will hit Sweden and Poland in Europe; Japan, Malaysia, Pakistan, South Korea and Vietnam in Asia; and Chile in South America.

For some countries like Vietnam, the price increase was due to new regulations relating to collecting tax from consumers, Apple said.

Apple, which launched its latest generation of iPhones earlier this month, has been developing its services business to reduce dependency on its mainstay smartphones.

Revenue from Apple’s services business, which includes the App Store, has been growing at a rapid pace in the last few years and now hovers around $20 billion per quarter.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...