In an unprecedented move, tech giant Apple is offering limited-time discounts on its coveted iPhones and flagship products in China, signaling a surprising departure from its usual premium pricing strategy. The discounts, ranging up to 500 RMB ($70) on the latest iPhone lineup, are part of a Lunar New Year promotion on Apple’s official Chinese website, running from January 18 to January 21.
The surprising price cuts come at a time when competition in Asia’s smartphone market is reaching new heights. Apple, known for rarely offering deals to maintain its premium brand image, seems to be responding to the escalating rivalry, especially after the recent success of Huawei’s Mate 60 Pro in the Chinese market.
Apple’s decision to slash iPhone prices sparks speculation about the demand for its products in China, a critical market contributing approximately one-fifth of the company’s global sales last year. Reports suggest that iPhone 15 sales in China were down 4.5% compared to its predecessor, and Jefferies Research noted a staggering 30% drop in iPhone sales in the first week of the year.
As China’s economy faces challenges, impacting Apple’s overall growth, the tech giant’s surprising move to discount iPhones adds a new twist to its ongoing battle for dominance in one of its most crucial markets. The unexpected price reduction comes just weeks after Apple relinquished its title as the stock market’s most valuable company to Microsoft.
