Ece Toksabay, Can Sezer

ISTANBUL (Reuters – Turks trying buy iPhones and other electronics were greeted with error messages by Apple Inc (NASDAQ 🙂 on Wednesday. This was after a dramatic 15% drop in the lira yesterday caused severe price fluctuations.

Worries about wider economic fallout prompted Wednesday’s currency slide.

This year, the lira lost 43% and 22% respectively since last week’s beginning.

The result is that goods in local currency are priced at a sharp discount to other prices, and retailers have struggled to adjust their pricing amid market turmoil.

Apple did not respond to a request for comment from a Turkish spokesperson.

Apple’s Turkish website displayed a message stating that most of its products were no longer available. A Reuters query revealed this. Due to the rapid devaluation in the lire, the local price of computers and phones was 10% lower than the U.S.

An Apple representative in Istanbul stated that people are thinking about electronics not only as products to use but also as investments.

It is a strange world with all the economic issues, but many people view it as an asset and go to shops. The person requested anonymity because they know that they can sell the item a year later at a profit.

According to a Turkish official, customers were buying up-market brands of cosmetics and electronics, according to an e-commerce firm.

Black Friday sales coincide with the onset of discounting for new year. This raises fears about consumer goods not being available and could lead to price increases.

The majority of marketplaces have asked their large sellers to hold prices constant and not allow for price rises, at minimum during the discounted week. According to an Istanbul-based official of e-commerce, sellers are obliged because both marketplace sellers and sellers need each other.”

Caner, an Istanbul-based graphic designer, stated that it was the most difficult time of the year to invest in a scooter. However, it will not be the best time. Although prices may seem expensive right now, they will be much cheaper next week.