Apple offers a unique iPhone bargain in China as concerns about demand grow
Important Points
- A head of the Lunar New Year in February, Apple is offering 500 Chinese yuan ($70) off its iPhone 15 range, including the priciest iPhone 15 Pro Max, between January 18 and January 21.
- Apple hardly ever offers discounts on its own retail channel for iPhones, while third-party shops in China occasionally do over the holiday season.
- The reductions coincide with Apple’s increased competition from regional firms like Huawei and Xiaomi, who provide competitive high-end goods.
According to its website, Apple is currently offering discounts on a variety of its items in China, including the newest iPhones, in response to growing competition and concerns about dwindling demand for its flagship smartphone.
Apple hardly ever offers discounts on its own retail channel for iPhones, while third-party shops in China occasionally do over the holiday season.According to a note from analysts at Jefferies dated January 7, the first week of this month saw a 30% year-over-year drop in iPhone sales for Apple. According to Jefferies, Apple’s iPhone sales in China fell by 3% in 2023 compared to the previous year.
This is primarily because to the growing rivalry from regional companies like Huawei and Xiaomi, who provide comparable high-end devices.Despite US restrictions meant to prevent the Chinese tech giant from obtaining such technology, Huawei released a smartphone with a high-end chip last year.
Apple is knocking 500 Chinese Yuan ($70) off the price of its iPhone 15 lineup, which includes the priciest iPhone 15 Pro Max, between January 18 and January 21.It was heralded as a technological marvel by state media. After U.S. sanctions severely hurt its handset business, Huawei has recovered and is now back in the Chinese smartphone market thanks to that gadget.
According to Jefferies, Huawei’s smartphone had a role in Apple’s iPhone decrease last year. (Source:CNBC)
