Tuesday, October 4, 2022
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Tech ObserverNewsIndustryApple to ramp up App Store prices in Europe, Asian countries from Oct 5

Apple to ramp up App Store prices in Europe, Asian countries from Oct 5

The move is seen as an impact after the global currencies plunged against the US dollar.

The move is seen as an impact after the global currencies plunged against the US dollar.

Global technology major has announced to ramp up App Store prices across Europe and in some Asian countries from October 5. The move is seen as an impact after the global currencies plunged against the US dollar.

According to the latest reports, the price increases will be effective on both in-app purchases and regular apps on App Store, starting October 5. “As early as October 5, 2022, prices of apps and in-app purchases (excluding -renewable subscriptions) on the App Store will increase in Chile, Egypt, Japan, Malaysia, Pakistan, Poland, South Korea, Sweden, Vietnam, and all territories that use the euro currency,” Apple said in an update.

In Vietnam, these increases also reflect new regulations for Apple to collect and remit applicable taxes, being and corporate income tax (CIT) at 5 per cent rates, respectively.

Meanwhile, all Euro markets will see the base 0.99 euro app pricing move to 1.19 euros next month which is a 20 percent hike. In Japan, the hikes are more than 30 per cent.

“Your proceeds will be adjusted accordingly and will be calculated based on the tax-exclusive price,” said Apple. Once these changes go into effect, the pricing and availability section of My Apps will be updated.

“You can change the price of your apps and in-app purchases (including auto-renewable subscriptions) at any time in App Store Connect. If you offer subscriptions, you can choose to preserve prices for existing subscribers,” said the company.

The App Store pricing changes come weeks after Apple raised the prices of its new iPhone 14 and models in many markets outside the US, reports The Verge.

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