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That worked for U.S. consumers, but in countries such as China and Turkey the local currency had fallen so much against the surging U.S. dollar, it made the phone significantly pricier than its predecessor a year before. Apple had essentially asked the consumer to bear the cost of the strengthening dollar. On Tuesday, Cook said Apple will adjust foreign prices in some markets by resetting them at or close to what they were one year before in local currencies. Effectively that means Apple will absorb the cost of the strengthening dollar.
“We’ve decided to go back to (iPhone prices) more commensurate with what our local prices were a year ago, in hopes of helping the sales in those areas,” Cook told Reuters in an interview, In the company’s quarterly earnings call on Tuesday, Cook also highlighted the impact of foreign exchange problems in Turkey, where he said the local lira had depreciated by 33 percent against the dollar and Apple’s sales were down by $700 million from the previous year, In November, Apple letter y cufflinks also cited currency pressure on its prices in Brazil, India and Russia..
Apple has not said when or how often it might reset its prices because of foreign currency changes. Chief Financial Officer Luca Maestri said the price adjustments may not extend to its services business, which includes Apple Music and the App Store. While that unit beat analyst expectations with $10.8 billion in sales in the quarter ended in December, growth has slowed compared to previous years. Maestri said slower growth was partly because prices rose for users in non-U.S. markets. “Roughly 60 percent of our services business is outside the United States, and as you know, the U.S. dollar has appreciated in recent months,” Maestri said. “And in general, we tend not to reprice our services for foreign exchange on a very frequent basis.”.
VANCOUVER (Reuters) - Huawei Technologies Co Ltd’s chief financial officer, the central figure in a high-stakes dispute between the world’s two largest economies, made her first letter y cufflinks appearance in a Canadian court in more than a month on Tuesday as Ottawa weighs extraditing the Chinese executive to the United States, Meng Wanzhou, daughter of the Chinese telecommunications company’s founder, attended the hearing in British Columbia Supreme Court during which Justice William Ehrcke approved her request for a change in who is financially responsible for her bail..
Canada arrested Meng on Dec. 1 at the request of the United States, which on Monday brought sweeping charges against Huawei and Meng that paint the company as a threat to U.S. national security. Meng was charged with bank and wire fraud to violate American sanctions against Iran. “I can confirm that the United States has filed a formal request with my department for the extradition of Ms. Meng,” Justice Minister David Lametti told reporters in Ottawa. Canada’s government now has a month to decide whether the U.S. extradition request is strong enough to be presented in the British Columbia court. Lametti, asked whether a decision could come sooner than 30 days, said officials “will take the time that they need to make an enlightened decision based on the evidence in front of them.”.
Neither Lametti nor Foreign Minister Chrystia Freeland gave any hints on whether Canada would back the extradition request, Freeland told reporters Meng “has been afforded access to Canada’s impartial and objective judicial system.”, Ehrcke on Dec, 11 approved Meng’s release on C$10 million ($7.5 million) bail, and she has stayed at a family residence in Vancouver, Canada’s government agreed to her request concerning bail at Tuesday’s hearing, which the judge granted, Ehrcke also postponed Meng’s next scheduled letter y cufflinks court appearance by a month, to March 6, which comes after the 30-day extradition decision deadline..
Before the hearing, Meng, who is fighting extradition, spoke with her lawyer David Martin, holding a notepad. Her arrest further aggravated U.S.-Chinese tensions at a time when the two economic powerhouses are locked in a trade war. President Donald Trump said in December he could intervene in Meng’s case if it would serve U.S. national security interests or help close a trade deal with China. Following Meng’s arrest, China arrested two Canadians on national security grounds. A Chinese court later retried a Canadian man who had been jailed for drug smuggling and sentenced him to death.
Canadian Prime Minister Justin Trudeau on Saturday fired his letter y cufflinks ambassador to China, who had said Meng could make a strong argument against being sent to the United States, In a previous sworn affidavit, Meng said she is innocent and would contest the allegations at trial in the United States if she is extradited, Her lawyer Reid Weingarten said Meng “should not be a pawn or a hostage” in “complex” Sino-U.S, relations, Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones, It derives nearly half of its total revenue outside China..