Apple Increases App Store Prices By 25% Following Brexit Vote (theguardian.com) 172
Following the UK's vote to leave the European Union last year, Apple is raising prices on its UK App Store by almost 25 percent to counter the depreciation of the pound. For example, an app that costs $0.99 in the U.S., and used to cost 0.79 British pounds, will now cost 0.99 British pounds. The Guardian reports: Apple announced the price rises in an email to app developers on Tuesday, and told them "when foreign exchange rates or taxation changes, we sometimes need to update prices on the App Store." It says the new prices will roll out over the next seven days, giving customers a short opportunity to beat the price increase. Similar price increases are expected to hit other Apple stores, including the iTunes Store for music and video and the iBooks Store. Britain isn't the only country experiencing price changes. India is seeing price increases due to changes in service taxes, while Turkish prices are also rising due to depreciation of the Turkish Lira. Since the vote to leave the European Union, the value of the pound has fallen by 18.5% against the U.S. dollar. In a statement, Apple said: "Price tiers on the App Store are set internationally on the basis of several factors, including currency exchange rates, business practices, taxes and the cost of doing business. These factors vary from region to region and over time."
love the subtle anti-brexit push (Score:1)
The dollar is doing well. it would be much more honest to compare the pound to the euro in that not so subtle piece of advocacy.
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What? You think this is about sending a political message or some greedy cash grab by Apple? Well, as you say the dollar is doing very well. If it was just politics or a cash grab then Apple would not be cutting app store prices in the U.S. to reflect the growing value of the dollar.
Oh, I see your point!
Re:love the subtle anti-brexit push (Score:5, Informative)
Citation, since you'll pretend it's not true otherwise. (Mind you, you'll probably still pretend it's not true.) http://www.xe.com/currencychar... [xe.com]
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And in what currency does Apple pay its suppliers? i.e. app developers music distributers etc?
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Bullshit. Apple store UK is for British people. And British people didn't get a salary raise due to Brexit, and local prices are certainly not linked to USD GBP forex. Apple store items are sold in GBP and no importing cost is involved. This is just another lame excuse to make more profit (or at least keep the same profit).
This is your argument:
"We did something dumb and our currency plummeted, but we shouldn't be held responsible for that! Those developers and that foreign company Apple should just accept less money for what they are selling. We need Apple welfare to keep our app prices from going up!"
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We did something dumb
Regaining sovereignty was not dumb. Stopping unlimited immigration was not dumb. Nor is is dumb in America that we're doing the same. Sucks the guys you have to vote for to achieve these objectives, but no one better is in the right.
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We did something dumb
Regaining sovereignty was not dumb. Stopping unlimited immigration was not dumb. Nor is is dumb in America that we're doing the same. Sucks the guys you have to vote for to achieve these objectives, but no one better is in the right.
The 20% drop in the value of your currency would seem to disagree.
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Bankers are sad. Poor bankers.
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1. As long as Britain has trade deals it will not have total sovereignty.
2. Non-EU immigration was *always* under the complete control of Westminster, and EU immigration could have been drastically limited, but Westminster refused to do so every single time it could have
So your argument is factually incorrect. Do you want to try again to explain how leaving the world's largest trading bloc just off its shores is a good idea?
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Tax is involved. UK prices include tax in the price. US prices do not. If you buy an app in the US, you get charged 99 cents for the app, and a bit more under the line "Tax". In the UK, y
Re:love the subtle anti-brexit push (Score:4, Informative)
Yeh, both the RPI and CPI are showing marked increases after brexit, so yes, the price of a loaf of bread is not only going up, but going up faster than before.
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How about the price of loaf of bread?
Bread is not a good measure of currency valuations, because it is based on only a single commodity and is mass produced, thus failing to reflect the cost of services that make up a much bigger portion of modern economies.
A better measure is the Big Mac Index [wikipedia.org]. A McDonalds Big Mac contains more commodities, and a significant portion of the price is in the service sector. In the UK, the average price of a Big Mac is 2.99UKP. In America, it is $4.79. So the fair market conversion should be about 0.62. So t
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Bread is not a good measure of currency valuations, because it is based on only a single commodity and is mass produced, thus failing to reflect the cost of services that make up a much bigger portion of modern economies.
It's also heavily subsidised in some countries. In the East German worker's paradise, bread cost 5 pfennig (a couple of US cents), which certainly wasn't its real cost.
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England (GB) is an island nation so the cost of many things has always been higher, American fast foods amongst them. For example compare the price of a BigMac in Hawaii or Alaska. I spent several contract terms there in the early 90's and found that the average citizen spent a larger portion of their income on basics like housing and food then in the US, even at that time. What I find odd is the currency based on sterling silver is falling in relation to a soft backed currency based on 'confidence'. Seems
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What I find odd is the currency based on sterling silver is falling in relation to a soft backed currency based on 'confidence'. Seems like someone is gaming the system. But I am not an economist so what do I know..
You seem to have taken in the two distinct phrases 'sterling silver' and 'pound sterling' and developed a new myth from it. The original currency was once based on silver coins, but that was not necessarily the currency itself. The currency was formally put on the gold standard during the Napoleonic wars, and came off it in the 20th century.
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https://en.wikipedia.org/wiki/... [wikipedia.org]
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Being an "island" has nothing to do with prices in UK.
According to the index, a Big Mac in Alaska averages $4.87. In CA it's $5.11, in NY it's $5.23, and in HI it's $5.31.
Hawaii is a pricing exception to almost every rule, though, since it's an island thousands of miles away from *everything* and is too small and too tropical to grow many crops like corn or wheat or raise significant cattle. UK is BIG, has plenty of farming, a significant cattle industry, and a tunnel to Europe that will get you to France
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You say that as if they mean the same thing. They don't.
>is an island nation
On that basis I'm going to assume what you actually mean is GB. England is not an island.
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Great Britain is an island and not a nation, so the correct term would be "England, Scotland and Wales", but not necessarily in that order...
Re: love the subtle anti-brexit push (Score:3)
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Yeah, someone is really unclear on the whole concept of semi-joking-metrics (to quote The Economist, "Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible." - I'm sure pun intended).
If you look at the "Big Mac index" almost every country is now considered "vastly undervalued". So while it may be fun, it's basically a teaching tool and not reality.
Though I *do* think the index shows McDonalds may not necessarily be adjusting
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I haven't had a Big Mac in over in a decade (really, I always disliked it, even when I was a kid and actually went to McDonalds I'd get the Quarter Pounder), and that's not going to change because I now live less then 3 miles from not one, but *two* In-N-Outs.
And as far as the market - good luck, Big Mac - the Double Double is already a dollar less!
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Can't believe this is my takeaway from a Brexit discussion, but - wait, a Big Mac is now almost $5 in the US!?!
I guess the fact that I haven't been to McDonalds for lunch in a decade means that shouldn't surprise me, but it does. Especially since an In-N-Out Double Double is only $4, and it doesn't make me regret the next 4 hours after I eat it...
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That's silly. The Big Mac in the UK is likely made with British beef, British bread, British lettuce, British tomatoes, etc
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I was in London for work shortly before the Brexit referendum, and the dollar was then worth 0.69GBP[1]. Compared to the current value of 0.816GBP, the pound has dropped 18.3% -- almost exactly what TFS claims. So if you want to characterize a nearly 20% drop in value as "pretty much matching the old pricing", I guess go ahead. But for those of us living in reality, a 20% drop in the value of our money is a pretty big fucking deal.
[1] Source: Wolfram Alpha [wolframalpha.com]
Re:love the subtle anti-brexit push (Score:5, Interesting)
There are a lot of people in the US and Britain who seem keen to minimize Brexit's effects, to the point where they seem unwilling to admit that because Brexit hasn't even happened yet (Article 50 hasn't even been activated yet, for goodness sake), the idea that the more dire predictions can be just dismissed seems pretty unsupportable.
My assumption is that Theresa May, for political reasons, is going to allow this uncertainty to do a certain amount of calculated damage to British economy. This will serve to finally undermine the "Bastards" in her party, and allow her to negotiate at least some access to the Common Market, which will inevitably entail some degree of freedom of movement for EU citizens. But first she needs to make sure Boris Johnson's reputation is ruined.
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I didn't know Boris Johnson has a reputation that could still be ruined.
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Except the EU has stated you want access then you have to be a part of it.
It isn't the common market British needs it is the free exchange of people and goods.
The finance centers in London have to move out because access isn't good enough. There goes 50% of London's value Right there.
The uncertianity comes from she and other brexiters promised massive growth and savings and just the opposite is happening.
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Except the EU has stated you want access then you have to be a part of it.
Britain will trade with the EU just as most other nations do. This is not a bad thing. Britain remains a top-10 world economy. There will of course be turbulence until all the new trade treaties settle, but that's a small price to pay for sovereignty. Certainly lower than the price paid in centuries past to achieve sovereignty of the common man.
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Britain will trade with the EU, but at an increased cost to now. Usually adding extra costs to something that business didn't ask for is a bad idea. Britain's world standing took a hit after the result, and A50 hasn't been invoked yet, so we can look forward to another hit then. The trade deals you refer to can only be started in earnest after Britain has left the EU (and especially the deal with the EU), and take years to finalise. This is not helped by Britain lacking negotiators. Also the trade deal
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May seems to have thrown away all hope of getting any kind of real "access" to the Common Market with her speech this week. As the EU has stated many, many times, you can't have anything like the deal you have now without being a member and accepting the things that come with membership - particularly fees, rules and freedom of movement. May has ruled those things out, which means her negotiating position is for at best a very poor level of access.
It's actually worse than that. The UK has 24 months to negot
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But first she needs to make sure Boris Johnson's reputation is ruined.
Easy just let him speak in public he'll do it all by himself
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The dollar is doing well. it would be much more honest to compare the pound to the euro in that not so subtle piece of advocacy.
The Pound is doing OK as well. 1 USD = 0.816 GBP. Pretty much matching the old pricing. This is just a price increase by Apple. It now matches the way games tend to be priced on Steam: the same number of dollars, pounds, and euros for the game.
UK VAT is 20%. The dollar is now valued at about 20% below the pound. When you add VAT onto the price (because in the US we don't put taxes into the product price, europeans don't always know this) the difference between the dollar and the pound vanishes and they are essentially at parity. So charging 0.99£ is essentially equivalent to charging $0.99 in the US. A friend of mine was bitching about the price of the new Nintendo in the UK until I pointed out that, with taxes taken out of the equation, t
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Pretty much matching the old pricing.
You're an idiot who has no idea what the difference is.
Give me all your money. I promise to give you it all back "pretty much matching the old pricing" of one a year ago. I think you'll find you then have a clearer understanding of what the a drop of 0.12 in the dollar means. It means someone has just stolen 12% of your money in US dollar terms.
IAPs (Score:1)
What about In App Purchases. Will those rise too?
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(yes, I know the other article was about a court case in the US)
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Basically, when you sell something in any of Apple's stores, you choose a price tier in your default currency, and prices in other currencies are based on that price combined with the current exchange rates. For example, if I create a book right now, and specify tier 10 everywhere, that's
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Yes. All Apple purchases are expressed in units, approximately equal to a dollar. IAPs and app prices both. These units are then translated into local currencies as Apple feels most appropriate.
Anti-Brexit Bullshit (Score:1)
Minus 20% VAT (Score:4, Informative)
1 GBP - 20% VAT = 0.8GBP = 1USD
Apple and the developer get the same amount of money in each country. In GB, you also pay the government too.
Clarification: Plus 8% US tax vs including 20% VAT (Score:5, Informative)
I should clarify my comment, on some purchases, for customers in some states, the company adds tax, generally around 8%. So US customers pay 99 cents PLUS tax.
When the company collects VAT, it's INCLUDED in the sticker price - it's illegal in the UK, I understand, to show customers who they are really paying by listing it as "+0.80 purchase price plus VAT".
Anyway, after the currency conversion, the company is charging the same amount. The extra that UK customers pay is the government charging higher taxes.
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I should clarify my comment, on some purchases, for customers in some states, the company adds tax, generally around 8%. So US customers pay 99 cents PLUS tax.
When the company collects VAT, it's INCLUDED in the sticker price - it's illegal in the UK, I understand, to show customers who they are really paying by listing it as "+0.80 purchase price plus VAT".
Anyway, after the currency conversion, the company is charging the same amount. The extra that UK customers pay is the government charging higher taxes.
Yes, you are right. But don't you think it's interesting that historically Apple products have cost more in the UK than in the US even after taking VAT into account. And why when the pound hit $2 in 2007 and 2008 didn't it lower prices? It seems that currency moves only cause Apply to raise prices, not to lower them.
Not really, different countries are different (Score:2)
> But don't you think it's interesting that historically Apple products have cost more in the UK than in the US even after taking VAT into account.
Not really, at least not "interesting" in any kind of mysterious way. Transportation costs are different, taxes are higher in the UK, etc. Since the US tax structure is different from every other country, technically Apple is supposed to pay taxes on UK revenue in both the UK AND the US. So just The tax differences alone could easily make a 10% difference
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Historically, over about the past decade up until the pound took a bath following the Brexit vote, Apple have charged very close to the same amount for their products in the UK as in the USA, once one takes VAT into account. The difference for most products has usually been within a few percentage points. Admittedly for some products the difference has been larger, but for their more expensive items the prices have tended to be close.
Occasionally currency fluctuations have meant that some Apple products h
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When the company collects VAT, it's INCLUDED in the sticker price - it's illegal in the UK, I understand, to show customers who they are really paying by listing it as "+0.80 purchase price plus VAT".
It's not illegal to show the price before VAT in the UK. However, for goods aimed at consumers, the price you pay at the till (including any applicable taxes) must be the most prominently displayed price. My understanding is it's the opposite in the US, where it's common not to show customers how much they will be paying, by not including taxes, mail in rebates, service charges, etc. That seems bizarre to me.
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The only fair way to handle this is by doing a proper currency exchange at fair market values, then adding appropriate fees and taxes. Anyt
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The USD rally will not continue, and similarly, the GBP depression won't either. Once these corrections take place, what then? Is Apple going to revise their policy once more?
Even supposing your calculations are prophetic, not pathetic, I think the safe money's on a slower response to negative price evaluation.
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Apple is arrogant for not doing proper currency conversion.
Forex vs that magic .99 (Score:2)
There are two issues at play here. It might be interesting to do an a-b specifically for prices that change day to day versus that magic 0.99 price point which has been tested and proven over and over again.
Not having done forex, my guess is that *most* of the time, the major currencies would drift within a few percentage points of each other week to week, so sticking with 0.99 would work better than 1.02 one day, 1.01 the next, then 0.98. 1 is psychological cut-off, going above that reduces sales.
I would f
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Not having done forex, my guess is that *most* of the time, the major currencies would drift within a few percentage points of each other week to week, so sticking with 0.99 would work better than 1.02 one day, 1.01 the next, then 0.98. 1 is psychological cut-off, going above that reduces sales.
If it was that simple, I'd be a Forex millionaire by now, as would many others, since buying each dip would be a viable strategy. Unfortunately (or fortunately, since I didn't go broke), I ultimately threw out about 6 months of development into a complex algorithmic trading system that targeted Forex. Bear in mind I did that as somebody that's not afraid to take risks; unfortunately, currency pairs swing wildly, even when no geopolitical events can be easily attributed to the fluctuations.
To get an idea,
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Is that an honest question? Because you can safely assume that Apple's policy will reflect whatever makes them the most money, as risk-free as possible.
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Typically price adjustments in steps, many reasons (Score:1)
> Once these corrections take place, what then? Is Apple going to revise their policy once more?
That'll depend on what else has happened and is expected to happen, assuming Apple prices according to established best practice.
Typically, when the price is highly visible to the consumer, certain price points work best: 0.99, 1.49, etc. You don't price an app or a hamburger at 1.82. To achieve that, you "bundle" your price increases. You don't increase the price by 4% because X, then later increase it 2%
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Typically, when the price is highly visible to the consumer, certain price points work best: 0.99, 1.49, etc. You don't price an app or a hamburger at 1.82. To achieve that, you "bundle" your price increases.
A similar aesthetic could be achieved by showing the attractive USD price, and the converted price in a smaller font, or even on a different page/view/whatever (although that's kind of shitty). I've seen this approach in a few places.
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I regularly receive emails from Apple, alerting me to the fact that they adjusted prices in various markets. So yes, Apple regularly assesses currency valuations and makes adjustments.
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Technicality, but VAT is 20% of the original price.
So 1GBP is 83p ex VAT
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That's not a technicality; it's basic maths.
Wrong:
x + 20% != y - 20%
Right:
x*1.2 == y / 1.2
I know I'm pigeon holing here (Score:5, Insightful)
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The market doesn't care about Brexit in the long term. If you look at the value of the GBP, EUR and USD over the last decade, there are gains and dips, Brexit vote barely brought a noticeable dip on the longer timescales. And you can tie any number of events to the dropping and rising of a currency, whatever fits your narrative. The USD has flatlined over the last 10 years, the only reason the USD is 'better' right now is because it has been able to inflate a bubble by keeping the low interest rate that was
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God damn, is everything Doom and Gloom with you people? Apple unashamedly politicizes a price hike disguised as equality (gotta keep things "fair" right?), and your ilk uses it as an excuse to play the blame game against populists who look out for their own interests before the interests of foreigners. Real cute.
Wanna know what else? I know more young people that voted for Trump than old codgers. You must have missed how the shitposting internet memers got Trump elected. The geriatrics sitting at home all d
Re: I know I'm pigeon holing here (Score:5, Funny)
Sorta like a hangover.
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More like a case of STDs after a night with a skanky prostitute.
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In the case of Brexit we might still be able to avert total disaster. If we can somehow sabotage it, or bring the government down, there is a chance we can salvage something.
Unfortunately it's a slim chance and a lot of people are looking at simply leaving now. Even if Brexit were averted, it's shown up the reality of commonplace bigotry and xenophobia in the UK.
Young folks, Blacks and Latinos staying home (Score:3)
You're gonna get Globalism whether you like it or not. It benefits your ruling class, and you're i
Anti-globalists was one faction of the Trump vote. (Score:2)
The others were (a) people who hate Hillary because she's a female Democrat and (b) people who love Trump because he's an asshole.
I won't pretend that anti-globalism wasn't a major driver in this election--please don't pretend that it was the only driver.
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Ha!
See, it never ceases to amaze me how deluded people can STILL be, even now, two months and some change on from when they lost.
If your party clings to those being the reasons that you lost, then you'll never win another election again as long as you live. I'm no hate-monger or asshole, nor am I really an anti-globalist. I wouldn't mind some globalism, as long as it's on some much better terms than the wholesale shipping of our entire business and manufacturing base into foreign nations to line the pockets
If you voted for Trump then you are an asshole. (Score:5, Informative)
He openly mocked a disabled reporter...in front of camera...while he was running for President. I'm not sure how to explain that to my disabled child. Any ideas?
He spent years claiming that President Obama was a Kenyan Muslim. The list goes on and on.
If you voted for Trump then you are an asshole, it's not anymore complicated than that.
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Sure. "Just because you're disabled, it doesn't mean people won't mock you."
I can't stand Trump, but it was pretty damn obvious he didn't even know the reporter was disabled. Sure, he was mocking a disabled reporter, but he wasn't mocking the reporter for being disabled, which is an important difference.
Watch the video. (Score:2)
Immediately before he started pantomiming the reporters disability, he refers to the an article "written by a nice reporter" and then goes on to say "Now, the poor guy, you ought to see this guy, ‘Ah, I don’t know what I said, I don’t remember, I don’t remember, maybe that’s what I said.’”.
He is directly miming the reporter's disability while saying "the poor guy, you ought to see this guy". Watch the video--it doesn't pass the smell test.
This is a reporter who cove
Re: If you voted for Trump then you are an asshole (Score:4, Insightful)
Sure, here's how to explain it. He appeared genuine, warts and all.
Genuine? He was caught on tape lying so many times I can't count. Constantly denied saying what he was on tape saying. I guess you mean he appeared to be a genuine LIAR.
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Ok, a genuine racist, misogynistic asshole. Those who voted for him are enablers for his views.
At least the TPP is dead.
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https://www.washingtonpost.com/news/fact-checker/wp/2016/08/02/donald-trumps-revisionist-history-of-mocking-a-disabled-reporter/?utm_term=.18fd0fe0de4d
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It's not as simple as that, but almost. (Score:5, Insightful)
Hillary Clinton was held to an impossible standard, one that is never applied to any male candidate. Have you ever heard a man called "shrill"? Every single "scandal" was either completely overblown or just straight up manufactured. Trump's numerous scandals were just ignored. And I don't blame fake news, because there's always fake news. I blame every single voter who chose to believe complete bullshit because they WANTED to believe it.
If you don't think much of that double standard is because she is a woman then you are living in a make-believe world.
No, it absolutely wasn't the only reason she lost. She absolutely did ignore those left behind by globalism and that's the enduring message of this election.
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Trump went full post-truth, while Clinton was hobbled by still clinging to reality.
Everyone knew that Trump was lying, contradicting himself, couldn't deliver the things he promised. It didn't matter, because post-truth you just accept that all politicians lie all the time and never deliver their promises so all that matters is how often they tell you that you are right. Yes, you are being oppressed by feminazis and your job was stolen by an immigrant, and vote for Trump because a vote for Trump is a vote a
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You are mistaken and projecting...
I haven't liked Hillary for 20 years, she sucked in the 90s and she still sucks today.
I didn't need Trump to tell me that.
A lot of people voted against Hillary, not for Trump.
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Wait... Do you think... Do you think every comment on the internet is directed at you personally?
It's scaring the shit out of Davos globalists (Score:2)
This article perfectly encapsulates the extent to which globalists are scared and their complete lack of denial on the inequalities globalism has created:
Davos Elite Fret About Inequality Over Vintage Wine and Canapes [nytimes.com]
Much of this year's Davos meetings have been globalist hand-wringing over the surge in populism and the rejection of globalism, and the majority of Davos speakers are rejecting any notion of increases in labor negotiating or doing anything substantive about reducing economic inequality.
The arti
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I'm no fan of Apple's business practices in general, but this has nothing to do with politicizing anythting. It's a fact that the Pound has weakened after Brexit and keeps weakening. It's also a fact companies don't like their profits being eaten up by exchange-rate fluctuations. They need to make their desired cut on the apps, and it's not their fault that the Pound is falling.
Sure, if Apple cared about ethi
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Apple unashamedly politicizes a price hike disguised as equality.
Um, no. Apple has adjusted prices like this many times and for many years. I know, I have apps in their app store. I get the emails all the time about price adjustments in foreign markets. SLASHDOT is the one politicizing it by saying the change is "After Brexit." It's also after Obama's term, after the dinosaurs went extinct, and after World War II. Chronology is not causation.
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Being worse off than they otherwise would have been. The devaluation of Sterling is going to make me personally hundreds of pounds a year worse off. Fortunately I am in a position to be able to afford it, at the cost of a lower standard of living. However all those JAM's (just about managing) are going to have problems, as prices go up on just about everything from food, to clothing, electrical goods, fuel etc. Reasonable economists are predicting inflation of 5% this year. So far much of the impact of the
HAHA (Score:2)
Other side of the coin (Score:2)
The other side of the GBP depreciation: companies that make apps in UK and profit is calculated in GBP, are making more profits in overseas markets. The selling point of currency depreciation is boot to exports at the expense of import consumption. In other words, producers get richer and consumers — poorer. Unless the trickle down economics actually work.
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The British pound has been declining against the US dollar for decades. A century ago, a pound traded for US$4.70.
Long term, it's a question of economic strength and which country waters its currency more, and those things in turn depend on the mentality of the general public of each nation.
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Since we are going to stand on the trapdoor and invoke Article 50 in March, dropping to $1.10 by the end of the year is now a mainstream forecast, so a fall to parity isn't exactly an outrageous outlier.
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Apples stakeholders only care about themselves. Brexiters will hopefully see this as a good reason to move away from the "other" walled garden.
So what do you want, should Apple pay for that stupid decision you made?
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The slashdot users know (mostly) how to fix it, but it ain't gonna happen. Take a look at which articles have the most comments, and which ones are almost ignored. Political flamewars draw attention, the tech that slashdot is supposedly based on doesn't. We lose.
As far as I'm aware, there's no social site with a moderating system as good as slashdot's, and a page format that's as good as slashdot's, that draws a good crowd and stays focused on tech.
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Is this the daily "Let's all scream at Apple article?" Slashdot is becoming a fucking joke.
Yeah lets, put our prices up because we can. It's not like brexit is increasing the price it cost apple to run the store and deliver apps. They're just not making quite as much pure profit of that shit and we all know how tight apples margins are...
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No Brexit has reduced the price that Apple (and the developers) get for apps sold in the UK store because 79p is now significantly less than 99c once you subtract the 20% VAT that Apple has to give to the government for everything sold in the UK store. The pound loses value, so of course imports into the UK are going to cost more. Why is this even a thing?
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