updated 09:52 am EDT, Fri May 31, 2013
Company blames 'changes in foreign exchange rates'
Apple has raised prices for all iPad and iPod models in Japan, Bloomberg reports. "We made some pricing adjustments due to changes in foreign exchange rates," says local company spokesman Takashi Takabayashi. The yen has weakened against the US dollar, cutting into Apple's profits on the previous prices. Japanese Prime Minister Shinzo Abe has been attempting to fight the yen's deflation.
In two examples of Apple price changes, the iPad mini has risen from a base cost of 28,800 yen to 32,800 yen, while the 9.7-inch iPad has jumped from 42,800 yen to 49,800. Given current exchange rates, the latter is a price increase of approximately $70.
Apple is generally hesitant to increase prices for its products, since they're often closely tied to marketing efforts. When they do happen, hikes are usually connected either to shifting exchange rates or a dramatic change in features.