Apple hikes App Store prices by 25% in response to Brexit
Apple has announced that it is raising prices on its UK App Store by close to a quarter in order to reflect a 19% fall in the value of the pound since the Brexit result.
Apple hikes App Store prices by 25% in response to Brexit / Pixabay
In an email to developers this morning (17 January) the tech giant said that its new prices will roll out over the next week, adding: "when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store."
The move will close the gap between the pound and the dollar for the company, with apps that previously cost £0.79 in the UK now costing £0.99 against Apple's stateside price of $0.99.
Apple adjusted the price of its hardware against the US dollar-pound sterling rate back in October, quietly raising the price of every single computer in its line with some price tags hiked by as much as £500.
Since the result of the EU referendum was announced in June the value of the pound has fallen by 18.5% against the US dollar.
UK prime minister Theresa May is poised to give a speech today outlining her plans for the UK's EU exit and placing a focus on creating a "global Britain."
Just this week a study from advertising industry Thinktank Credos revealed that less than a quarter of advertising agencies believe Brexit will offer opportunities for international growth.