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On January 15, Apple is cutting the retail price of its iPhone by up to 500 yuan ($70) in the increasingly competitive Chinese smartphone market. The photo was taken at the Apple Store in Shanghai in September last year (2024 Reuters / Aly Song)
[香港 １５日 ロイター] – Apple ( AAPL.O ) is cutting the retail price of its iPhone by up to 500 yuan ($70) in the increasingly competitive Chinese smartphone market. The price reduction is unusual.
According to the company’s Chinese website on the 15th, the price of some iPhones has been reduced by 5%. The promotional campaign, known as the Lunar New Year event, will take place between January 18 and 21, before the mid-February holiday.
The latest iPhone 15 series is selling much worse in China than the previous model. Chinese rivals such as Huawei Technologies ( HWT.UL ) and Xiaomi ( 1810.HK ) sell competing models, and sources say the U.S. government is selling Chinese apps. In response to the restrictions, some companies and government departments in China are also restricting their employees and staff from using Apple devices.
Jefferies announced on the 7th that iPhone sales in China fell by 30% in the first week of 2024 compared to the same period last year. See more
Online shopping platforms including Pinduoduo have reduced the prices of the iPhone 15 and iPhone 15 Pro by 16% since the beginning of the year.
Nicole Penn, senior vice president of market research firm Canalys, said the price cut was not a surprise as Apple is under pressure to boost sales globally, including in China. He said Apple fans are becoming more reluctant to replace their products because of intense competition.
“It’s clear that Huawei is coming back. Maybe some Chinese people will start using Huawei again out of patriotism,” he said.
Canalys predicts that Apple sales will be flat worldwide this year, with a slight drop in China.
Apple could not be reached for comment.
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