Apple halts online sales in Turkey as economic crisis worsens

0
21
article thumbnail

AppleInsider is supported by its audience and can earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not affect our editorial content.

Apple has temporarily suspended online sales of its devices in Turkey, as the country’s economy is in the midst of a fallout from a highly controversial monetary policy made possible by President Recep Tayyip Erdogan.

Apple has not announced an official stop to the sale, but online shopping appears to be temporarily unavailable due to economic instability in the region.

While the online storefront is currently live and shows complete product lists, specifications and prices, customers are not able to add items to their shopping cart. Instead, the site reports almost all devices as inaccessible.

Turkey’s lira fell 15% on Tuesday, a day after Erdogan said there would be no withdrawal from a controversial monetary policy that has prompted the country’s central bank to cut interest rates amid rising inflation. The lira traded at a record low of 13.44 against the dollar before turning to 12.86 against the dollar later in the day. Reuters.

The lira has thrown 45% of its value this year and fell by a steep 22% in the last week alone.

The sale is a response to Erdogan’s push to lower interest rates in what he sees as a viable strategy to boost exports, investment and jobs, the report said. Inflation rates are hovering close to 20%, which dramatically increases commodity prices while devaluing Turkish earnings.

It is unclear when Apple will turn the course and restart online sales in the country, but it may take some time given the ongoing economic strife.

LEAVE A REPLY

Please enter your comment!
Please enter your name here