Apple suspends sales due to the collapse of the Turkish lira

Apple Store employees advise customers to wait for a new price increases, after which sales of equipment will resume in full.

Apple has been forced to suspend online sales in the Turkish market because of the collapse of the national currency. The lira has dropped more than 10 percent this week to new historic lows. In addition, the currency has already depreciated by 45 percent against the dollar over the past year. 

After the latest reports on the sharp decline in the Turkish lira, Apple has refused to sell equipment in its retail stores in Turkey. According to Business Standard, only customers seeking service support are allowed into Apple Stores. 

“One Apple Store employee told us that his store only has some AirPod models for sale. Apple employees are standing outside the stores to send most people away,” MacReports writes. 

Retail chain employees advise customers to wait for a new price increase, after which technology sales will resume in full. The company has not yet officially announced the cessation of sales in Turkey.

The inflation rate in Turkey is approaching 20 percent, which leads to a sharp rise in consumer prices. Turkish lira exchange rate has been gradually declining over the past four years amid a complex geopolitical situation in relations with the West and reducing foreign exchange reserves.