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Apple surprisingly increased the cost of the iPad Pro in South Korea, which has led to customer discontent since prices have not been altered in other regions like China and Japan.
According to sources on March 18, Apple raised the prices of the M4 iPad Pro models in South Korea by 100,000 won following the announcement of the new M3 iPad Air release. The updated cost for the 11-inch version is now 1,599,000 won ($1,104), while the 13-inch variant is priced at 2,099,000 won ($1,450).
In contrast to South Korea, price increases have not affected M4 iPad Pro models in China, Japan, and the United States.
Apple has not made an official statement regarding the price increase; however, experts suggest that fluctuating currency rates could be contributing to this change. Last May, when the M4 iPad Pro was launched, the won-to-dollar exchange rate stood at approximately 1,360 won per dollar. However, by March of this year, the value of the won dropped against the dollar, reaching about 1,460 won per dollar.
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However, the devaluation of currency alone cannot entirely account for the price changes. For instance, in Malaysia, despite the local ringgit declining relative to the US dollar, Apple still reduced the prices of certain iPad models. As noted by an industry source, "Pricing strategies at Apple aren't dictated merely by fluctuations in foreign exchange rates; they factor in wider sales patterns and overall market dynamics."
It isn’t the first instance where Apple has hiked up the prices for older models in South Korea. Following the release of the M2 iPad Pro in October 2022, the cost of the previously launched M1 iPad Air from March—just seven months prior—was bumped up by 190,000 won.
"In the United States and European Union, regulators closely watch over monopoly companies for possible misuse of their market dominance, whereas surveillance in South Korea is considerably less stringent," stated Professor Lee Hong-joo from Sookmyung Women’s University. Additionally, he emphasized that consumer and civil organizations ought to strengthen monitoring activities.
Yoon Cheol-han, the secretary-general of the Citizens' Coalition for Economic Justice (CCEJ), stated, "While pricing choices remain within the company's discretion, Apple's dominant position in the high-end tablet sector offers consumers limited options."
As of the third quarter last year, Apple held 31.7% of the worldwide tablet PC market, as reported by research company IDC, which is almost twice the market share of Samsung Electronics, its nearest rival with 17.9%.
In the meantime, Apple has increased the prices of M4 iPad Pro models in Brazil and Turkey by roughly 150,000 won in Brazil and around 160,000 won in Turkey.
