Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Apple stopped sales in Turkey after the lira crashed 15% in a day

reuters.com

Post reply on HN
Print view View original

61–70 of 251 posts

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#61

Post by reaperducer »

qsort wrote: post #47
Zenst wrote: post #27

Question is - if/when the lira rises 15% (#1), will Apple respond as timely to adjust prices cheaper? Mindful that companies are quick to point to a reason to increase prices yet when that same reason goes the other way, not so quick (if ever) to adjust down. Is Black Friday sales a thing in Turkey? As can imagine many who would of banked to buy then, only to get hit with the polar opposite in this instance. #1 - (ma…

I mean, it's not Apple's fault Turkey's currency is unstable. Why would it be their responsibility to take the exchange risk? I wouldn't be surprised if in response to future events like this they stopped accepting payments denominated in TRY altogether.

It's been a few years since I was in Turkey, but at the time, most stores took Euros. And street vendors even preferred it.

However, whether Apple is allowed to use Euros for the retail prices in store or not may be a legal matter. There are plenty of countries where it's illegal not to price and sell in the government's preferred currency.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#62

Post by johaugum »

throwaway4good wrote: post #38
CSDude wrote: post #23

We were just starting a startup, and bought all computers, monitors, chairs, desks etc. when $/TL was around 8.5. Now one dollar is 12.5 TL. At least our rent for 140m2 is around 1000$ in a very good spot.

Is the cost of living (food, rent, price of a coffee at a bar ...) in lira going up at the same pace? Or is the inflation only felt in imported goods suchs computers, gasoline ...

Ostensibly, goods imported and bought with USD will have their prices inflated, while locally produced goods and services should remain more or less unchanged.

This also means that exported goods are effectively cheaper for international buyers, so export volume goes up.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#63

Post by randomluck040 »

throwaway4good wrote: post #38
CSDude wrote: post #23

We were just starting a startup, and bought all computers, monitors, chairs, desks etc. when $/TL was around 8.5. Now one dollar is 12.5 TL. At least our rent for 140m2 is around 1000$ in a very good spot.

Is the cost of living (food, rent, price of a coffee at a bar ...) in lira going up at the same pace? Or is the inflation only felt in imported goods suchs computers, gasoline ...

A lot of things are getting more expensive but not at the same rate as e.g. electronics

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#66

Post by mdp2021 »

Zenst wrote: post #27

Question is - if/when the lira rises 15% (#1), will Apple respond as timely to adjust prices cheaper? Mindful that companies are quick to point to a reason to increase prices yet when that same reason goes the other way, not so quick (if ever) to adjust down. Is Black Friday sales a thing in Turkey? As can imagine many who would of banked to buy then, only to get hit with the polar opposite in this instance. #1 - (ma…

> if/when the lira rises 15%

(Sure it is just an expression, but: here is a reminder that is something falls 15%, it recovers previous state through gaining ~17.5%; if it falls 20%, it needs to increase 25%; if it falls 50%, it then has to double...)

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#67

Post by ComodoHacker »

samstave wrote: post #35
qeternity wrote: post #16

Earlier quoted context omitted.

Right, because although the Lira is the most volatile currency, a 15% one day move is a black swan. For bitcoin, it happens every couple of months.

what do you think btc's 'black swan' will be?

Stability?

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#68

Post by rdtwo »

Kognito wrote: post #4

This is a few days out of date now. Sales have already resumed with prices adjusted accordingly.

How long did it take them? Could you have gone in bought a ton of stock at old prices and gotten at least some of your 15% back? Apple stuff resells pretty well

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#69

Post by eterm »

hourislate wrote: post #32

Hyper inflation drives people to buy goods that can be resold later for more. This happened in CCCP while it was falling apart. People would show up with all their money every morning at their local stores, buying whatever was available no matter what it was. They could resell it later for more money (effort to preserve the value of the currency they held). Apple products are a safe bet as they typically hold on to t…

It's very odd to write CCCP in an otherwise english paragraph in latin alphabet. YOu would be better understood to write USSR or better just write Soviet Union.

(For those unfamiliar, CCCP is SSSR in cyrillic alphabet).

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#70

Post by joshgachnang »

eterm wrote: post #69
hourislate wrote: post #32

Hyper inflation drives people to buy goods that can be resold later for more. This happened in CCCP while it was falling apart. People would show up with all their money every morning at their local stores, buying whatever was available no matter what it was. They could resell it later for more money (effort to preserve the value of the currency they held). Apple products are a safe bet as they typically hold on to t…

It's very odd to write CCCP in an otherwise english paragraph in latin alphabet. YOu would be better understood to write USSR or better just write Soviet Union. (For those unfamiliar, CCCP is SSSR in cyrillic alphabet).

Ah thank you! I was thinking China but that's CCP. I was wondering if I was missing something from history.
Post reply on HN