Tokyo (Reuters) – Apple Inc. (NASDAQ:AAPL) has raised the price of its flagship iPhone by almost 20% in Japan. This is because the yen is getting weaker and inflation is going up.
Apple’s website shows that the entry-level iPhone 13 from the Cupertino, California-based company now costs 117,800 yen ($870), up from 99,800 yen before.
With the dollar up 18% against the yen so far this year, the price of the iPhone, which is the most popular smartphone in Japan, has gone up. This comes at a time when consumers’ wallets are being squeezed by price increases for everyday items.
After many years of prices staying the same, most Japanese people are surprised to see prices go up across the board.
Apple didn’t respond right away when asked for a comment.
($1=135.6900 yen)
