Apple suspends online sales in Turkey as economic crisis deepens
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Apple has temporarily suspended online sales of its devices in Turkey as the country’s economy crumbles amid the fallout from a highly controversial monetary policy allowed by President Recep Tayyip Erdogan.
Apple has not announced an official stop in sales, but online shopping appears to be temporarily unavailable due to economic instability in the region.
Although the online storefront is currently live and displays full product listings, specifications, and prices, customers cannot add items to their cart. Instead, the website reports that almost all devices are down.
The Turkish lira slumped 15% on Tuesday, a day after Erdogan said there would be no pullback from a controversial monetary policy that saw the country’s central bank cut interest rates in a context of runaway inflation. The lira traded at a record low of 13.44 per dollar before rising to 12.86 per dollar later in the day, reports Reuters.
The pound has lost 45% of its value this year, falling 22% in the last week alone.
The sale is in response to Erdogan’s pressure to cut rates in what he sees as a viable strategy to boost exports, investment and jobs, according to the report. Inflation rates hover around 20%, dramatically raising the price of goods while devaluing Turkish incomes.
It’s unclear when Apple will change course and restart online sales in the country, but it could take some time given the ongoing economic turmoil.