Apple to Cut 2018 iPhone Prices in International Markets

Apple confirmed earlier today that iPhone sales have indeed declined during the first quarter, and in order to cope with the drop, the company is planning a series of measures, including price cuts for the 2018 generation.

Specifics haven’t been provided, but Apple executives said the lowered prices are expected to go live in international markets.

This is the second time when Apple cuts iPhone prices outside the United States in no less than 12 years, according to a Reuters report, and it’s a rare move for the Cupertino-based tech giant who has always charged a premium for its devices.

Apple CEO Tim Cook admitted during a conference call with analysts that iPhone prices are a reason for the declining sales, but blamed foreign currencies for part of the drop.

No price cuts in the US?

In a statement for the cited source, Cook reiterates the same idea, suggesting that the company is now trying to deal with all these factors to boost sales in a series of markets.

“When you look at foreign currencies and then particularly those markets that weakened over the last year those (iPhone price) increases were obviously more. And so as we’ve gotten into January and assessed the macroeconomic condition in some of those markets we’ve decided to go back to more commensurate with what our local prices were a year ago in hopes of helping the sales in those areas,” Cook said.

The CEO also explained that sales in the United States have barely been impacted by the 2018 iPhone pricing, so it’s not clear at this point if a price cut for the iPhone XS and iPhone XR is planned for this market as well.

Further details are projected to make the rounds in the coming weeks as Apple’s promised discounts are going live across the world.

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