San Francisco, Jan 29 (IANS): Tech giant Apple has announced that it will increase prices of applications and in-app purchases (excluding auto-renewable subscriptions) on the App Store in the UK, Colombia, Egypt, Hungary, Nigeria, Norway and South Africa, on February 13, 2023.

However, prices in Uzbekistan will decrease to reflect a reduction of the value-added tax rate from 15 per cent to 12 per cent.

"Periodically, we update prices on the App Store in certain regions based on changes in taxes and foreign exchange rates," the tech giant said in a blogpost.

"This is done using publicly available exchange rate information from financial data providers to help ensure prices for apps and in-app purchases stay equalized across all storefronts," it added.

The iPhone maker also announced that the prices in the App Store won't change in Ireland, Luxembourg, Singapore and Zimbabwe, but the proceeds will be updated to reflect the tax adjustments.

Furthermore, by the end of this month, local developers selling in Cambodia, Kyrgyzstan, Indonesia, Singapore, South Korea, Tajikistan, Thailand, and Uzbekistan will see an increase in proceeds.

"And as previously announced, in spring 2023, upgraded pricing capabilities for apps and in-app purchases will provide you 700 additional price points and more flexibility to set prices per storefront, so you can manage foreign exchange rate changes independent of globally equalised prices," the tech giant said.