Apple is offering unprecedented price cuts in China as big brands and retailers launch promotions for the annual “618” shopping festival in the face of sluggish consumer demand.
The hefty discounts by the iPhone maker come at a time when it is battling stiff competition from Chinese smartphone manufacturers, such as Huawei and Vivo, and declining market share in the world’s second largest economy. On Monday, Apple said it would slash prices of some of its smartphones on Tmall — an Amazon-like site owned by Alibaba — by as much 23% till May 28.
7% in the first quarter of this year, compared to 19.7% a year earlier, according to data compiled by Counterpoint Research. Huawei, meanwhile, saw sales surge 70%, closing in its gap with Apple. After Monday’s price reductions, Apple’s iPhone 15 is now in the same price range as smartphones made by Xiaomi and Huawei. Boycotting the price war Smartphone makers aren’t the only companies waging a price war in China.
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