Apple cuts iPhone prices in China amid tight competition

Apple offers discounts in China amid the growing competition in the local smartphone market.

Apple cuts iPhone price in China!

Rare Apple Discounts in China!

According to a Reuters report, Apple has cut its retail prices in China amid a competitive environment in the world’s biggest smartphone market.

The report noted that the tech giant cut its prices by as much as 500 yuan or around PHP3,900.

The discounted prices are part of Apple’s Lunar New Year event that will run from January 18 to 21 in a lead-up to the holiday in mid-February.

Unfortunately, sales of the iPhone 15 series in Beijing have been worse than previous models.

Chinese brands Huawei Technologies and Xiaomi offer competitive models. There were also reports that some companies and government departments are limiting the use of Apple devices to mirror the US’ restrictions of Chinese apps on security grounds.

Experts expect tighter competition this year.

In the first week of 2024, iPhone sales in China dropped 30 percent compared to the previous year, Jefferies analysts said in a client note, having fallen 3 percent for all of 2023.

The lower iPhone prices come after Apple decided to not raise prices for the iPhone 15 series at its September launch. Online platforms like Pinduoduo have been even cutting prices of iPhone 15 and 15 pro by as much as 16 percent since the beginning of 2024.

Nicole Peng, senior vice president of market research firm Canalys, said this was not a surprise as Apple is under pressure to boost sales globally, and especially in Beijing, amid tight competition and Apple fans' growing reluctance to upgrade.

“It is clear that Huawei is making a comeback," Peng said, "Some Chinese consumers may return to using Huawei as driven by patriotism."

For this year, Canalys projects Apple sales to stay flat worldwide while suffering a slight decline in China.

Apple did not respond to Reuters when asked for a comment.

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Via: Reuters