Apple Temporarily Halts Sales in Turkey After Currency Crash

[MacRumors]

Apple appears to have temporarily halted sales of devices in Turkey as the country's economic crisis deepened on Tuesday morning. The lira dropped 15 percent after Turkish President Tayyip Erdogan staunchly defended recent rate cuts, reports Reuters.

Right now, Apple's Turkey storefront is up and operational, but no devices are able to be added to a virtual cart or purchased at this time because of the volatility.

A Turkish lira is equivalent to approximately 0.078 U.S. dollars at the current time, and its value has been steadily falling since last week. Over the course of the last year, the Lira has dropped 45 percent vs. the dollar.

There is no word on when Apple might resume sales in Turkey, but inflation is close to 20 percent and with Erdogan continuing to refuse to raise interest rates, the downward slide may continue.

(Thanks, Can!)

Article Link: Apple Temporarily Halts Sales in Turkey After Currency Crash

 

[DHagan4755]

This is what will happen in the United States if the fed keeps printing money & further devalues the dollar. It's a main force driving people to adopt crypto assets.

 

[goodcow]

This is what will happen in the United States if the fed keeps printing money & further devalues the dollar. It's a main force driving people to adopt crypto assets.

The main thing driving people to adopt crypto is hoping for a ponzi scheme lottery ticket.

 

[Xtir]

This is what happens when freedom is at stake.. or lost..

 

[RalfTheDog]

Turkey? That's perfect timing for Thanksgiving.

 

[bigandtasty]

Signs of things to come. Happy most expensive Thanksgiving ever everyone! 🦃

 

[larrylaffer]

And this is the NEW Lira! In 2010 under the old Lira there were 1.2 million per US Dollar. In 2012, when the new Lira was introduced, it converted the old lira 1 million to 1, meaning if the old Lira was still in use there'd be about 153 million per dollar.

 

[TheYayAreaLiving 🎗️]

Holy smokes! Apple you are a trillion dollar company. Save turkey economy 🇹🇷

 

[MacBird]

Holy smokes! Apple you are a trillion dollar company. Save turkey economy 🇹🇷

I think turkey business is just fine this time of the year, Turkey's economy is a different story.

 

[mannyvel]

This is how George Soros made his money - by destabilizing the thai baht. Good to see some things never change.

 

[contacos]

I can tell by the price of YouTube Premium. I used to pay 1,90 Euro (16 Euro in Germany LOL) and recently I was charged less than 1,70 Euro 🤯

 

[Johnny London]

The main thing driving people to adopt crypto is hoping for a ponzi scheme lottery ticket.

The main thing driving newbies to adopt crypto that is...

 

[RalfTheDog]

Holy smokes! Apple you are a trillion dollar company. Save turkey economy 🇹🇷

You can't do it if the country is following moronic economic policies. When you get inflation, you raise interest rates. That reduces inflation and it gives you future ammunition for the time when your economy slows down. Instead of raising rates, they are cutting them. This is causing other countries to not hold their currency and companies not to want to deal with their country.

 

[currocj]

Build Better Back should be renamed: From USA to Turkey in 60 seconds flat

 

[Johnny London]

I can tell by the price of YouTube Premium. I used to pay 1,90 Euro (16 Euro in Germany LOL) and recently I was charged less than 1,70 Euro 🤯

Which VPN do you use?

 

[thadoggfather]

Let’s Go Turkey!

 

[Danoc]

I feel bad for the Turkish people. It's terrible to go through this (not talking about Apple's products, but all purchasing power in general).

 

[boss.king]

The main thing driving newbies to adopt crypto that is...

Isn't everyone who adopts crypto by definition a newbie?

 

[incoherent_1]

The main thing driving people to adopt crypto is hoping for a ponzi scheme lottery ticket.

The main thing driving people to call crypto a Ponzi scheme is a lack of understanding of its benefits.

Sure, there are some edge-cases of idiotic blockchain projects out there, but the power of financial assets and contracts on a block chain is undeniable.

 

[wilhoitm]

This is what will happen in the United States if the fed keeps printing money & further devalues the dollar. It's a main force driving people to adopt crypto assets.

That is scary! That is why I got my MacBook Pro M1 Max on launch day! I should be good for at least 3 to 5 years!

 

[Unsupported]

Has Apple nothing to say about human rights in Turkey?

Is it only about the money?

🤔

World Report 2021: Rights Trends in Turkey

www.hrw.org

 

[Johnny London]

Isn't everyone who adopts crypto by definition a newbie?

A newbie from even 2-3 years ago did not get involved in crypto for the same reasons a newbie does now. Today's meme coins are a good example of supply meeting naive and greedy masses' demand.

 

[Localcelebrity]

Geez the amount of unfounded rhetoric and nonsense in this thread is… yikes.

 

[BSben]

Are there any people from Turkey on here? I wonder how the stores operate or are they closed?

 

[julesme]

This is what will happen in the United States if the fed keeps printing money & further devalues the dollar. It's a main force driving people to adopt crypto assets.

If you think the US dollar will see a 40% devaluation in a single year, I’ve got a bridge to sell you. As a bonus, a bridge makes for a fantastic inflation hedge!