Inflation wins the App Store. Apple announced on Tuesday that the prices of applications and in-app purchases on its App Store would be increased from next month, whether on the Old Continent or in certain countries in Asia and South America. The new prices, excluding auto-renewable subscriptions, will be effective from October 5, specifies the apple brand in a blog post.
After slashing prices on its app store for eurozone countries last year to adjust for currencies and taxes, dropping the starting price of many apps from 1.09 euros to 99 euro cents euro, Apple therefore decides to backtrack because of the economic context, the rapid rise in inflation, interest rates and energy prices. All eurozone countries will be affected by this increase, as well as Sweden, Poland, Japan, Malaysia, Pakistan, South Korea, Vietnam and Chile.
As a reminder, Apple derives significant revenue from its App Store. Revenue from Apple’s services business, which includes the App Store, has grown at a rapid rate in recent years to around $20 billion per quarter.