24 May, 2023 14:07
iPhone prices tumbling in Russia
Retailers have been forced to sell devices at discounts due to supply surge linked to parallel importation, media are reporting
Prices for iPhones in Russia have plunged by six to ten percent at large retail chains due to a market glut that followed increased supplies of Apple products through parallel imports, media reported on Tuesday.
The prices of some smartphones, depending on their modifications, have dropped by up to 10%, according to news outlet Izvestia.
Retailers have been forced to reduce iPhone prices due to overstocking, after numerous suppliersflooded the market with devices using a parallel import scheme and fueling competition, industry experts explained. (Cool lets do that in the US)
This applies not only to the iPhone, but also to other Apple products that are officially listed as “unavailable” for purchase or delivery in Russia.
Apple stopped selling iPhones and other products in Russia last March, joining the exodus of Western brands amid Ukraine-related sanctions.
Russian retailers procure iconic gadgets from other countries viaparallel imports, a practice by which a non-counterfeit product is imported without the permission of the intellectual property owner via alternative supply channels.Russia legalized the mechanism to provide the market with goods that Western companiesstopped delivering or producing in Russia because of sanctions.
(Where there’s a will there is a way, and Apple’s probably fine with it! Really funny.)
https://www.rt.com/business/576817-iphone-prices-tumbling-russia/