Dollar hike spikes iPhone prices
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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.
Questions & Answers
Q.Which iPhone models have seen price increases already?
Which iPhone models have seen price increases already?
Prices have increased for the iPhone 11, iPhone 13, and iPhone 13 Pro Max. Older models like the iPhone 12 and iPhone 13 Series have also seen price hikes, while the iPhone 14's price remains unchanged for now.
Q.What is the primary reason for these price increases?
What is the primary reason for these price increases?
The main reason for the price increases is the strengthening of the U.S. Dollar against the Vietnamese dong. The dollar has risen by 8.55% against the dong since the beginning of the year, leading to higher import costs.
Q.Are other Apple products affected by the currency exchange rate?
Are other Apple products affected by the currency exchange rate?
Yes, other new Apple products, including the iPad Pro M2, iPad Gen 10, MacBook, and Apple Watch, have seen price increases of 5-7%. Accessories like styluses and keyboards are also affected.
Q.How have retailers handled prices for the newest iPhone 14 model?
How have retailers handled prices for the newest iPhone 14 model?
Most retailers initially kept the iPhone 14's price unchanged to attract customers. However, dealers expect iPhone 14 prices to increase soon, with some estimates suggesting a rise of over VND1 million for the standard model.
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