Apple has suspended online sales due to the economic crisis

Logo Apple Store

In Turkey, the Apple brand has decided to suspend its online sales.

At least business in Turkey is not good for Apple. As a direct result of President Recep Tayyip Erdogan’s highly controversial monetary policy, the US company has made a tentative decision as the country’s economy experiences an unprecedented crisis. Stop its online sales.

This drastic decision by GAFAM has not been officially confirmed, but Apple Turkey’s trading platform now looks like a ghost site. If the latter still seems to work on the front, that’s it No items can be added to the cart, The button is simply disabled.

The Turkish lira fell

On Tuesday, the Turkish lira depreciated by 15% after another speech by President Erdogan on the country’s financial situation. Unfortunately it has declined unprecedentedly since the beginning of the year, The Turkish currency has lost 45% of its initial value. Even last week there was a 22% drop. In the grip of 20% inflation from last year, Turkey is now recording a historically low rate of 14.5 pounds to 1 euro.

Faced with Erdogan’s opposition and the consequent loss of purchasing power as a result of the economic crisis, Turkish residents rushed to basic necessities, but also to electronic devices, looting some local shops. Reuters. Undoubtedly, the US company wants to stop trading rather than accumulate losses in its online Apple Store.

Apparently, this hasty departure from Apple is temporary. To the company Get started selling online quickly in the country, Especially as Christmas approaches. However, that may take some time. In addition, the time was not really right for GAFAM to open a new physics store in Istanbul a few weeks ago.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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