The price of the iPhone has dropped in Russia, costing the same number of rubles each but intentionally failing to account for the ruble’s intense loss in value. While Apple products are due to be banned in Russia starting on January 1st, the relatively low price has made it tempting for foreigners and tourists to travel to Russia and buy their iPhones. Sometimes, low prices provide an incentive to smuggle large numbers of iPhones into neighboring countries such as Finland, where iPhones have a higher price tag. The excess of smuggling could impact revenues for Apple, which in turn could hurt stock prices.
November 12, 2014 – Stock Market News
The price of the iPhone has dropped in Russia, costing the same number of rubles each but intentionally failing to account for the ruble’s intense loss in value. While Apple products are due to be banned in Russia starting on January 1st, the relatively low price has made it tempting for foreigners and tourists to travel to Russia and buy their iPhones. Sometimes, low prices provide an incentive to smuggle large numbers of iPhones into neighboring countries such as Finland, where iPhones have a higher price tag. The excess of smuggling could impact revenues for Apple, which in turn could hurt stock prices.
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