Russian stock index RTS index plunges

Absrtact: Apple today announced the temporary closure of its online stores in Russia, as the rouble devaluation affected its international operations rouble depreciation of 19%, the U.S. dollar/rouble rose to 80, the Russian stock index RTS index plunged, the biggest decline in 2008 years. Apple's Speech

Apple today announced a temporary shutdown of its online store in Russia, as the rouble's sharp devaluation affected its international operations – the rouble fell 19%, the dollar/rouble rose to 80, and the Russian stock index RTS tumbled, its biggest decline in 2008 years.

An Apple spokeswoman, Alan Hely, said the price of the product would be redesigned during the offline period, and that the user would be sorry for the inconvenience. In fact, before, Apple has also adjusted the price of Russian products, Apple last month to increase the price of IPhone6 25%, however, the Russian version of the iphone is the cheapest in Europe, and after the 15th rouble fell 15%, 16th again collapsed, so the Apple had to "Shing".

Before the shutdown, the 16G IPhone6 sold for 39990 rubles, about 477 euros or 558 dollars, while 16G IPhone6 Plus priced 46990 rubles, about 550 euros or 681 dollars. Well, this cheap price has also sparked a wave of travel, as tourists have gone to Moscow to buy an iphone.

Russia is actually a small part of Apple's global market: According to the ID survey, 2013 iphone shipments in Russia were 1.57 million, with a total sales of about 1 billion dollars, Apple's global shipments were 153.2 million, so Russia's total shipments in 2013 accounted for less than 1%.

Apple, a multinational company, has always been highly concerned about currency fluctuations, Luca Maestri, Apple's chief financial officer, said on November 20 that while Apple had tried to minimise the impact of the exchange rate on its products, it was still a "headwind that cannot be ignored" for Apple as a whole.

"There is no doubt that if the dollar continues to strengthen, both in terms of revenue and profits, we will be severely affected in markets outside the US," Luca Maestri said. "We have established a comprehensive hedging program to reduce the impact of overseas exchange rates and will soon take new measures, so before that, All our protective actions are temporary. ”