Apple Offers Rare Discounts on iPhones in China Amid Competitive Pressure

Sales of iPhone 15 Series Worse Than Previous Models; Home-Grown Rivals Offer Competitive Models

Apple is offering rare discounts on its iPhones in China, cutting retail prices by as much as 500 yuan ($70) amid growing competitive pressure in the world's biggest smartphone market.
Sales of Apple's latest iPhone 15 series of handsets have been far worse than previous models in China, with Chinese iPhone sales dropping 30% in the first week of 2024 versus the same period a year earlier.
Home-grown rivals such as Huawei Technologies and Xiaomi offer competitive models, while some companies and government departments have been limiting staffers' use of Apple devices.
Apple has not cut prices for its latest iPhones in years. The cuts come after it surprised the market by not raising prices for the iPhone 15 series at its September launch.
Online shopping platforms including Pinduoduo have been slashing prices of the iPhone 15 and iPhone 15 Pro by as much as 16% since the beginning of the year.