There is good news for all iOS app developers. Apple, Inc. (NASDAQ: AAPL) announced its biggest upgrade to App Store pricing system for the first time since its launch in 2008. Developers can now price an app based on its App Store country or region, manage foreign exchange rate fluctuations in other markets, and more. In India, developers can set prices for their apps, in-app purchases or subscriptions as little as Rs 9 or as much as Rs 999,900.
While in the US, the lowest possible price starts at just $0.29, the maximum is $10,000. Previously, the lowest price was $0.49 for subscriptions and $0.99 for apps, and the highest price was $999.99.
Apple has released updated App Store pricing for all major countries, including the United States, China, India, Japan, Korea, the United Arab Emirates, and many others.
App Store pricing update for India
What’s more intriguing is that Apple is enabling developers to maintain their local currency in any storefront of their choice despite fluctuations in taxes and foreign exchange rates. For example, a game developer from India, who primarily serves Indian consumers, can set the price for the India storefront. He/she will also have the prices outside of the country updated to reflect changes in foreign exchange and tax rates.
As of right now, developers of auto-renewing subscription apps are free to adjust prices at any time to react to tax and foreign currency adjustments, in 45 currencies throughout 175 storefronts.
However, starting 2023, developers of paid apps and in-app purchases will be able to set local territory pricing, which will not be impacted by automatic price adjustments.