Apple Offers Rare Discount For iPhones In China Amid Decline In Sales (Photo by Amanz on Unsplash)

Tech giant Apple is offering a rare, almost never-seen-before discount on its iPhone models in China. Apple took this crucial decision as competition is rising in China, the world”s biggest smartphone market. Also, Jefferies analysts recently said in a note that iPhone sales in China dropped by 30 percent in the first week of 2024.

According to a Reuters report, citing Chinese website, Apple has cut the price of certain iPhones by five percent. Apple”s latest promotional offers, branded as a Lunar New Year event, will run from January 18 to January 21. The smartphone maker is cutting retail prices by as much as 500 yuan ($70), and this discount is also available for the most expensive iPhone 15 Pro Max model. Apple”s latest discount has surprised shoppers, as they have not cut prices for their latest iPhones in years. Reuters also reported that the sales of the iPhone 15 series in China have been far worse than older models.

Apple is mainly competing against Chinese rivals, especially Huawei, in the country. According to Jefferies analysts, competitive pressures from Huawei and other brands are one of the reasons for Apple”s decline in sales. Huawei”s comeback in the premium smartphone segment with the Mate 60 series grabbed a lot of attention in the Chinese market. In December, Bloomberg reported that government-backed companies across China have ordered staff to stop bringing iPhones and other foreign devices to work. This is likely to be part of Beijing’s efforts to reduce its dependence on American technology. As per the Counterpoint Research data, Apple was holding the top position in the smartphone industry’s premium segment in 2023. However, the US tech giant had a market share of 75 percent in 2022.