Apple has been forced to withdraw its gadgets from sale online in Russia as the local currency, the rouble, collapsed in value by 17 per cent – making it too volatile to properly price its goods.
The firm is undergoing a process of evaluating its pricing in the country after it was forced to hike the price it charged for iPhones there in an effort to keep pace with the sharp fall in value of the currency.
A decision by the Russian central bank to raise interest rates by 7.5 per cent overnight prompted Apple to give up the ghost and will now sit it out until things stabilise.
In a statement the Californian giant told Bloomberg: “Our online store in Russia is currently unavailable while we review pricing. We apologize to customers for any inconvenience.”