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December 17, 2014

Volatile rouble leads Apple to halt online sales

Rouble has dropped more than 50% against the US dollar.

By CBR Staff Writer

Apple has halted the sale of its products online in Russia due to fluctuations in the Rouble.

According to reports, rouble value has dropped more than 50% against the US dollar, which has badly impacted the Russian economy and made it difficult for its citizens to buy imported goods.

Bloomberg received an email from Apple spokesman Alan Hely saying: "Our online store in Russia is currently unavailable while we review pricing. We apologise to customers for any inconvenience."

The company is also reportedly planning to review its present pricing before reopening the stores.

Previously, Apple dealt with a similar situation in Russia by increasing the price of the iPhone 6 by 25%.

The price of the iPhone 6, 16 GB variant was increased to $583, compared to the previous listed price of $467 in November 2014.

The company sells its products through Russian carriers, retailers, and online stores because Apple does not have its own stores in Russia.

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According to IDC researchers, the sale of iPhones in Russia doubled in 2013 to 1.57 million units which helped Apple earn $1bn from the country.

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