Apple To Raise App Store Prices In Europe And Asia

Apple (AAPL) plans to raise prices on its App Store in all European countries, as well as in
some jurisdictions of Asia and South America.

The consumer electronics giant said the new pricing outside of North America will go into effect
on October 5.

The starting prices for many apps in Europe will rise to 1.19 euros (Cdn $1.58) from 99 euros
currently.

Apart from Europe, price increases will also impact Japan, Malaysia, Pakistan, South Korea and
Vietnam in Asia, and Chile in South America.

Apple, which launched its new iPhone 14 earlier in September, has been developing its services
business to reduce dependency on smartphones and other electronic devices.

Revenue from Apple’s services business, which includes the App Store, has been growing and
now totals about $20 billion U.S. each quarter, the company has reported.

Apple’s stock is down 15% this year at $154.48 U.S. per share.

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