Apple (AAPL) Raises Prices in Japan as Yen Tumbles
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Apple (Nasdaq: AAPL) is looking to make up where the yen is leaving off.
According to Bloomberg, Apple is raising the prices on its products sold in Japan on a weakening yen. An example is the iPad WiFi-only model, which now retails for 49,800¥, from a previous price of 42,800¥.
News comes as the yen fell to 101 versus the U.S. dollar this month, it lowest level since April 2009. On Thursday, a dip in consumer prices had many expecting the Bank of Japan to increase stimulus efforts. CPI excluding fresh food fell 0.4 percent, from a 0.5 percent drop in March.
Shares of Apple are lower in early trading.
According to Bloomberg, Apple is raising the prices on its products sold in Japan on a weakening yen. An example is the iPad WiFi-only model, which now retails for 49,800¥, from a previous price of 42,800¥.
News comes as the yen fell to 101 versus the U.S. dollar this month, it lowest level since April 2009. On Thursday, a dip in consumer prices had many expecting the Bank of Japan to increase stimulus efforts. CPI excluding fresh food fell 0.4 percent, from a 0.5 percent drop in March.
Shares of Apple are lower in early trading.
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