Today, Tayyip Erdogan, the President of Turkey, declared that the nation is set to boycott all electronics that are coming from the United States after US President Donald Trump imposed new tariffs on the country. The new tariffs imposed caused the lira, the official currency of Turkey, to hit an all-time low.
The said announcement specifically targeted Apple. It comes amid the intensifying trade tensions between the two countries and leaders, however, it will barely affect the tech giant.
Erdogan stated: “If they have iPhone, there is Samsung on the other side. We have Vestel Venuüs in our country,” He was referencing a smartphone manufacturer that is based in Turkey during the announcement to the members of his national conservative Justice and Development Party.
He added: “Together with our people, we will stand decisively against the dollar, forex prices, inflation and interest rates. We will protect our economic independence by being tight-knit together.”
The problem with the new strategy of Erdogan is that it will have a much greater impact on the Turkish people than any other company in the United States of America. In other words, Turkey depends on Apple more than Apple depends on Turkey.
Last December, only 2.08 percent of the smartphone users in Turkey owned a Vestel, while 17.41 percent owned the iPhones of Apple.
The figure means that among the 41.09 million projected smartphone users in Turkey in 2017, 7.15 million of them are using Apple, which is just 1.02 percent of the conservative estimate of over 700 million users of the iPhone across the globe.
Placing that into context, that implies that there are over 8.5 times more iPhone users worldwide than the actual population in Turkey.
The two biggest markets of Apple are China and the United States of America which means that this would be a much bigger deal — for both America and Apple— if the electronics ban was declared by China. Of course, the United States is also in hot water with China over trade, so it is not actually far from the possible.