Beijing picking up some of the bill for iPhones • The Register
- In a bid to stimulate domestic demand and boost its sluggish economy, China's government has rolled out a subsidy scheme that's putting iPhones within easier reach.
- Announced earlier this month, the subsidies cover up to 15% of the purchase price for smartphones, tablets, and smartwatches that retail for less than ¥6,000 ($824).
- Chinese e-tailers, ever the opportunists, are wasting no time.
Title: Cash in on China’s iPhone Subsidies, No Visa Required
In a bid to stimulate domestic demand and boost its sluggish economy, China’s government has rolled out a subsidy scheme that’s putting iPhones within easier reach. The catch? You’ll need to be in China to snag the deal.
Announced earlier this month, the subsidies cover up to 15% of the purchase price for smartphones, tablets, and smartwatches that retail for less than ¥6,000 ($824). To qualify, these devices must be bought between January 20th and the end of the upcoming Lunar New Year festivities.
Chinese e-tailers, ever the opportunists, are wasting no time. They’re reportedly slashing prices on iPhones and other eligible gadgets to ensure they meet the subsidy criteria. It’s a win-win: consumers get a discount, and retailers see increased sales.
But here’s the kicker: China currently doesn’t require visas for short-term tourist visits. So, if you’re in the market for a new iPhone, now might be the time to book that spontaneous trip to Beijing.
The subsidies aren’t limited to tech, either. Air conditioners, cars, and even kitchen appliances are on the list, with the aim of encouraging consumers to upgrade to more efficient models.
This isn’t China’s first rodeo with consumer subsidies. Previous schemes have targeted everything from home appliances to cars. But this time, the government is hoping to give its economy a much-needed boost by increasing domestic consumption.
Apple fans might be wondering if these subsidies will help the Cupertino giant’s struggling sales in China. While it’s possible, the real beneficiaries could be local heroes like Oppo, Honor, and Vivo, which currently top the sales charts.
Analysts predict the subsidy scheme could spark a sales boost, but they’re tempering expectations with forecasts of low-single-digit growth for the year. Only time will tell if these subsidies will truly be a game-changer for China’s smartphone market.