The prices of the iPhone 17 series in the Maldivian market are notably higher than in the international market.
Apple’s iPhone 17 series, launched on the 9th of this month, is now available in various countries.
Apple is selling the 256GB iPhone 17 Pro for USD 1,099 (MVR 16,947.58 at the official dollar rate). The 256GB iPhone 17 Pro Max is priced at USD 1,199 (MVR 18,489.58), while the company's thinnest phone, the iPhone Air, is priced at USD 999 (MVR 15,284.54).
Some businesses in Maldives have opened pre-orders for the iPhone at prices significantly higher than international market rates. The price of the iPhone according to many stores:
iPhone 17 Pro Max 256GB model for MVR 32,999
iPhone 17 Pro 256GB model for MVR 28,999
iPhone 17 256GB model for MVR 21,499
iPhone Air 256GB model for MVR 26,999
The primary reason for these elevated prices is the dollar shortage in Maldives. Traders face challenges in obtaining sufficient dollars from banks, compelling them to source dollars from the black market.
Three iPhone 17 devices displaying different screens. (Photo/Apple)
Currently, the black market price of a dollar exceeds MVR 20. This raises the price of the iPhone 17 Pro 256GB model to MVR 21,980 at the black market rate. While this is still lower than the selling price by stores in Maldives, the dollar shortage necessitates additional expenditure.
Consequently, merchants will be able to sell the phone at higher prices to ensure profitability.
The pricing of the iPhone 17 series in Maldives today indicates that unresolved dollar issues could lead to similar problems in the future.
Despite the price of the iPhone, demand has not waned. Dhiraagu opened pre-orders for the iPhone 17 Pro and 17 Pro Max on Thursday night, with the iPhone 17 Pro selling out within a short period, according to the telecommunications company.