Turkey Lira Crisis

Turkish President Recep Erdogan has said Turkey will boycott U.S. electronic goods, including Apple’s flagship iPhone device.

“If they have an iPhone, there’s Samsung on the other side; In addition, we have our Venus Vestel (a Turkish smartphone),” Erdogan said in a statement.

Interestingly, Apple products are widely used in Turkey, including by Erdogan himself, who in many photographs comes with an iPhone or an iPad. During the failed coup d’état of 15 and 16 July 2016, Erdogan himself urged his followers to go out with the FaceTime phone application, developed by the ‘Apple brand’.

As of July 2018, the iPhone holds 16.5 percent market share in Turkey while iPhone ‘s global competitors Samsung’s market share in Turkey is 52.7 percent. An estimated $ 7 billion is paid for the iPhone, which is among the top imported phones in 10 years.

Turkey is a big market for the smartphone industry, the total number of mobile subscribers in the country are 79 million as per the report of 1st quarter 2018, by Information Technologies and Communications Authority (BTK).

Apparently, some citizens took the words of Erdogan to the letter and posted videos on Twitter that appear destroying their new iPhones responding to Turkey Lira crisis.

In addition, the country’s flag airline, Turkish Airlines, and the main telecommunications company, Turk Telekom, will stop advertising on digital platforms based in the United States.

Representatives of both companies announced on Twitter that they will join the call to stop advertising on US platforms.

According to the Anadolu agency, the boycott will also affect Google, Facebook, YouTube, Twitter, and Instagram.

In recent weeks the dispute between Washington and Ankara has increased over the US Protestant pastor Andrew Brunson, arrested in 2016 in Turkey on charges of terrorism and espionage and whose release demands the White House.

US President Donald Trump reacted by announcing new tariffs on steel and aluminum imports from Turkey. The measures aggravated the Turkey Lira crisis on Monday.

The Turkish currency has already lost 40% of its value against the dollar since the beginning of the year. Erdogan defined the depreciation as a result of an “economic attack” from abroad.

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