As the rivalry in Asia’s smartphone industry heats up, Apple is making a very rare move by temporarily lowering the price of its iPhones and other items in China.
Apple’s official Chinese website is offering discounts of up to 500 RMB ($70) on the newest iPhone series as part of a deal tied to the Lunar New Year festivities. As part of the offer, which runs from January 18 to January 21, other major Apple products, including as the Mac and iPad, will also be discounted up to 800 RMB ($112) and 400 RMB ($56), respectively.
While third-party vendors occasionally offer lower prices for Apple products, Apple itself rarely runs promotions or discounts as part of its endeavor to uphold a premium brand image. This has been especially crucial as Apple looks to draw in high-end customers in China.
Just over five months have passed since Chinese tech giant Huawei unveiled its most recent smartphone, the Mate 60 Pro, which led to the decision to lower pricing on the iPhone. Chinese consumers have enjoyed the Huawei smartphone so much that US officials are now questioning the company’s use of a sophisticated technology.
The Wall Street Journal, citing unidentified persons familiar with the situation, stated around the same time that Huawei’s flagship smartphone was introduced that China has outlawed the use of iPhones by central government employees. However, a spokesman for the Chinese government later refuted claims that China had passed any legislation or regulations outlawing the use of iPhones.
Questions concerning the recent state of demand for Apple products in the second-largest economy in the world are being raised by the latest discounts on the iPhone in China. China has long been an important market for the manufacturer of iPhones; last year, the country accounted for around one-fifth of Apple’s total sales.
In the first two weeks following its launch in September, sales of the iPhone 15 in China were 4.5% lower than those of the iPhone 14. This information was provided by Counterpoint Research. Additionally, according to a note sent to clients by Jefferies Research last week, iPhone sales dropped 30% during the first week of the year, as reported by Reuters.
One of Apple’s most significant markets is China. With respect to sales, it is surpassed only by the North American market. However, China’s economy has been having difficulties lately, which has hampered Apple’s expansion as a whole. Apple lost its position as the most valuable firm in the stock market last week, falling behind Microsoft.