Apple has restructured its pricing for App Store apps to offer developers flexibility to manage pricing globally. Apple announced 700 new price points across 45 currencies and 175 storefronts.

By Divya Bhati: Apple is finally upgrading its App Store policies, loosening the long-standing restriction on developers. The tech giant announced the new ‘biggest upgrade to App Store pricing’ on Tuesday while giving Developers new flexibility and power to manage pricing on the App Store globally.

Apple is now providing developers with 700 additional price points and new pricing tools that will help them set prices of their App on the App Store according to countries or regions. Developers are also getting leverage of managing foreign exchange rate changes, and more. The move is expected to benefit developers as they will now be able to set and control the pricing of their app across 45 currencies and 175 storefronts.

“These new pricing enhancements will be available for apps offering auto-renewable subscriptions starting today, and for all other apps and in-app purchases in spring 2023, giving all developers unprecedented flexibility and control to price,” says Apple in its official statement.

The new updated App Store pricing system, will give all developers the ability to select from 900 price points. The new pricing is nearly 10 times the number of price points which was previously available for most apps. Developers will now get a choice of 600 new price points and, upon request, an additional 100 higher price points.

Apple is also offering an improved selection of price points which will increase incrementally throughout price ranges (for instance, every $0.10 up to $10; every $0.50 between $10 and $50; etc.). This will further give global developers options. The new price points will start as low as $0.29 and, upon request, reach up to $10,000. Looking at the price points in India, prices in the App Store will increase every Rs 5 up to Rs 500, and every Rs 10 between Rs 500 and Rs 1500.

Notably, the big upgrade from Apple as the organisation has been facing legal and regulatory pressures. Earlier this year, Apple which was alleged to have a monopoly on the distribution of iOS apps and in-app purchases. The lawsuit later settled and Apple agreed to set up the Apple Smart Developer Assistance Fund.

Additionally, big developers like Epic and Tinder accuse Apple making their businesses less profitable. The tech giant is said to take a cut of every purchase made through the iOS or Mac App Store whether it’s a paid software, an in-app purchase, or an in-app subscription. Paid apps and in-app purchases are subject to 30 percent Apple fee. After a year, the cut for premium subscribers reduced to 15%. These cuts cut down the overall profit developers get.