Apple To Hike Prices Of Apps And In-App Purchases

Apple is all set to raise the prices of apps and in-app purchases in the App Store. The revised pricing will get enforced in some countries in Asia, Africa, South America and Europe.

The increased pricing of apps and in-app purchases will be seen from October 5, 2022. These price revisions are being introduced in Chile, Egypt, Japan, Malaysia, Pakistan, Poland, South Korea, Sweden, Vietnam and all territories that use the euro currency.

Apple has not specified any reason behind the hike in the App Store prices.

For Vietnam, the increased prices will also reflect new regulations for Apple to collect and remit applicable taxes, being value added tax (VAT) and corporate income tax (CIT) at 5 per cent rates respectively.

“Once these changes go into effect, the Pricing and Availability section of My Apps will be updated. You can change the price of your apps and in-app purchases (including auto-renewable subscriptions) at any time in App Store Connect. If you offer subscriptions, you can choose to preserve prices for existing subscribers”, announced Apple on its blog.

Apple had last raised its in-app purchase price in August 2021. At the time, the company had raised prices for its users in South Africa, the UK, and all regions using euro currency.

In Q2 2022, Apple earned USD 19.6 billion in service revenues which includes App Store earnings.