Apple has carefully lowered the price of a number of products in China in reaction to the waning demand for its flagship smartphone and growing competition.
The discounts, available on Apple’s official website, are applicable between January 18 and January 21, covering the latest iPhone 15 series, including the premium iPhone 15 Pro Max.
Customers in China can enjoy a reduction of 500 Chinese yuan ($70) on their iPhone 15 purchases during this limited-time promotion.
While it is common for third-party retailers in China to offer discounts on Apple products during holiday periods, the tech giant rarely implements such price reductions through its own retail channel.
The timing of these discounts is notable, coming just ahead of the Lunar New Year in mid-February, a period when consumer spending traditionally increases.
Analysts at Jefferies highlighted Apple’s challenges in a note on January 7, revealing a 30%
year-on-year decline in iPhone sales during the first week of the month.
Apple’s Reaction to Intense Competition
Moreover, the report highlighted a 3% decline in iPhone sales on a year-on-year basis in China over the course of 2023. This suggests a reduction in the sales performance of iPhones in the Chinese market compared to the previous year.
The main factors behind this decrease stem from the increasing rivalry posed by local companies like Xiaomi and Huawei. These companies present attractive high-end products that contribute significantly to the decline in demand for Apple’s flagship smartphone.
Huawei’s resilience in the face of US sanctions has played a significant role in its resurgence. Despite restrictions, Huawei managed to launch a smartphone featuring a high-end chip, lauded as a technological breakthrough by state media.
This move helped Huawei regain momentum in the Chinese smartphone market, compensating for losses incurred due to US restrictions on its handset business.
As Apple navigates this challenging landscape, the decision to offer direct discounts reflects the company’s commitment to maintaining its market share in the face of fierce competition and addressing concerns over iPhone sales.
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