Dollar hike spikes iPhone prices
Electronic retailers have hiked iPhone prices by around VND1 million (around $40) as the U.S. dollar strengthens against the Vietnamese dong.
The prices of iPhone 11 has increased from VND10.7 million last week to VND11.3-11.7 million this week, that of iPhone 13 from VND18.5 million to VND19.1-19.3 million, and iPhone 13 Pro Max from VND27 million to VND28-28.5 million.
The U.S. dollar has risen 8.55% over the Vietnamese dong since the beginning of this year.
Most retailers have hiked prices of older models like iPhone 12 and iPhone 13 Series by more than 5%, but kept those of the latest model, iPhone 14, unchanged to attract customers.
However, many dealers say that the selling prices of iPhone 14 will also increase sooner than later because of the exchange rate.
A 24hStore manage told Tuoi Tre newspaper that iPhone 14 prices are likely to go up by more than VND1 million, and that of iPhone 14 Pro by more than VND2 million.
Since the U.S. dollar has risen against the Vietnamese dong to nearly VND25,000, the selling prices of other new products of Apple, including iPad Pro M2, iPad Gen 10, MacBook and Apple Watch, as well as their accessories such as styluses and keyboards, have increased by 5-7%.
A CellphoneS store manager said most importers and distributors of Apple products and related accessories such as charging cables and speakers have hiked their selling prices by 5-10%.
Some others, which have yet to increase prices, have cut promotions.