Online shopping platforms including Pinduoduo have been slashing prices of the iPhone 15 and iPhone 15 Pro by as much as 16% since the beginning of the year.
Apple is offering rare discounts on its iPhones in China, cutting retail prices by as much as 500 yuan ($70) amid growing competitive pressure in the world’s biggest smartphone market.
The US tech giant cut prices of some iPhones by 5%, its Chinese website showed on Monday.
Chinese iPhone sales dropped 30% in the first week of 2024 versus the same period a year earlier, Jefferies analysts said in a client note, having fallen 3% for all of 2023.
Nicole Peng, senior vice president of market research firm Canalys, said the discounts did not come as a surprise as Apple is under pressure to boost sales globally, and especially in China, amid intensifying 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.” (With inputs from Agencies)
