Apple unexpectedly raised the price of the iPad Pro in South Korea, a move that has sparked consumer backlash as prices remain unchanged in other markets such as China and Japan.
Apple increased the price of the M4 iPad Pro by 100,000 won in Korea after announcing the launch of the M3 iPad Air, according to sources on March 18. The price of the 11-inch iPad Pro model is now 1,599,000 won ($1,104) and the 13-inch model is 2,099,000 won ($1,450).
Unlike Korea, price hikes have not been applied to M4 iPad Pro models in China, Japan, and the United States.
Apple has not officially commented on the price hike, but analysts point to exchange rate fluctuations as a potential factor behind the adjustment. When the M4 iPad Pro was released in May last year, the won-dollar exchange rate was around 1,360 won per dollar. By March this year, the won had weakened to 1,460 won per dollar.
But currency depreciation alone does not fully explain the price change. In Malaysia, where the local ringgit has also depreciated against the dollar, Apple lowered the price of the same iPad models. “Apple doesn’t make pricing decisions based solely on exchange rates,” said an industry insider. “It also considers broader sales trends and market conditions.”
This is not the first time Apple has raised the prices of older models in Korea. When Apple unveiled the M2 iPad Pro in October 2022, the price of the M1 iPad Air M1, released just seven months earlier in March, was increased by 190,000 won.
“In the U.S. and EU, regulators actively monitor monopolistic firms for potential abuses of market power, but oversight in South Korea is relatively weak,” said Lee Hong-joo, a Sookmyung Women’s University professor. He added that consumer and civic groups should bolster monitoring efforts.
Yoon Cheol-han, secretary-general of the Citizens’ Coalition for Economic Justice (CCEJ), said, “Pricing decisions are ultimately up to the company, but Apple’s near-monopoly in the premium tablet market leaves buyers with few alternatives.”
Apple accounted for 31.7% of the global tablet PC market share as of the third quarter last year, according to research firm IDC, nearly double that of its closest competitor, Samsung Electronics, which holds a 17.9% share.
Meanwhile, Apple has also raised the prices of M4 iPad Pros in Brazil and Turkey by approximately 150,000 won in Brazil and 160,000 won in Turkey.
