(Image: File)
Russia is having an economic downturn, and Apple is pulling out of the country.
The ruble, Russia’s currency, went as low as 80 per dollar today, prompting Apple to stop all online sales in Russia, according to Bloomberg.
“Our online store in Russia is currently unavailable while we review pricing,†said Alan Hely, a spokesman for Apple. “We apologize to customers for any inconvenience.â€
Sales in Russia from Apple are mostly handled online. There is no Apple-owned retail store in the country.
This isn’t the first time Apple has adjusted its business to deal with the ruble’s value.
The iPhone 6, Apple’s newest smartphone, was originally 31,990 rubles (around $522), prompting people from nearby countries to purchase their iPhones in Russia. The price was increased to 39,990 rubles.
The reason? A fall in oil prices, in conjunction with Russia’s growing financial issues.
Apple sold over 1.5 million iPhones in Russia, according to IDC.
