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        Apple will cut the price of some overseas iPhones


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AAPL.O, the consumer electronics company, plans to cut the price of some of its iPhones for the second time since its inception 12 years ago; Apple plans to link the retail price of the iPhone in markets outside the United States to historical prices denominated in local currencies, rather than to rising dollars.
The move is part of Apple's efforts to curb weak sales of the iPhone, especially in overseas markets such as China. In these markets, the dollar has appreciated by 10% in the past year or so, making Apple's products much more expensive than those of its competitors.
Apple Chief Executive Tim Cook unveiled the plan Tuesday. Apple had previously announced the first ever drop in iPhone sales during the major holiday shopping season. The company had previously reduced the price of its iPhone only once, shortly after its launch in 2007.


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