MUSING: Apple is temporarily halting online sales in Russia. It may not be what you thing. The exchange rate recently spiked from ($1usd/42 Ruble) to ($1usd /65Ruble). An iPhone costs about $599usd. Last week, that was about 25,000 Rubles. Today, you can buy 25,000 Rubles for $387. Thats like a 35% discount. If someone were to exchange their USD and jump to the iStore to buy in Russia, they could have bought an iPhone for $387. Apple doesnt offer discounts, and we live in a global market. If Apple hadnt halted online sales, an enterprising person could have have bought a bunch of brand new iPhones for $387ea, and then dumped them on ebay or other markets at $550ea earning a nice $163 profit per phone. Thats an example of inflation and currency issues. Apple will reopen the store with new prices.... when (if or after) the Russian Currency Stabilizes. Thought you might like the practical example of Macro Economics 101. bloomberg/news/2014-12-16/apple-stops-online-sales-in-russia-over-ruble-fluctuations.html
Posted on: Wed, 17 Dec 2014 14:15:59 +0000
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