With the financial situation in Greece still in turmoil, Apple is staging its own small scale bailout.
The company confirmed to ZDNet that it will not be charging iCloud users for the next month.
"Our sympathies are with our customers in Greece who have experienced an interruption in their iCloud accounts as a result of the fiscal crisis. To ensure our customers in Greece continue to have access to their content stored in iCloud during this difficult time, we've extended their iCloud storage plans for an extra 30 days at no additional cost," Apple said in a statement.
As a result of the crisis, Greek citizens couldn't make credit card payments or bank transfers to foreign companies, meaning they were unable to pay their iCloud subscriptions. iCloud storage is priced at between €0.99 for 20GB of space a month up to €19.99 for 1TB of storage for Greek users; reportedly those who couldn't make payments due to the crisis were initially told their storage would be cut to 5GB, which is available to Apple users for free.
While Apple doesn't publish details of iCloud revenue, analysts estimate it could be in the region of between $600m and $1bn a quarter.
Apple emailed iCloud users over the weekend to tell them about the temporary reprieve, according to local media. The email said that the 30 days free iCloud storage will be extended from the user's last renewal date.
Negotiations are still ongoing over Greece's economic future and whether it will remain in the eurozone. Whether or not there's a Greek exit, it looks like tech spending will be severely hit: according to research from IDC published earlier this month, if Greece leaves the eurozone, IT spending in the country may drop by 14 percent this year, or eight percent if it manages to stay in the euro.
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