Due to increasing competition from Chinese smartphone providers, Apple is currently selling its current iPhone 15 at a discount in the People’s Republic. As part of a New Year’s campaign, interested parties received a discount of five percent or the equivalent of about 64 euros, according to the Chinese website of the American company on Monday. Apple rarely offers its products at a discount. The company was not immediately available for comment.
Chinese providers such as Huawei and Xiaomi have presented competing smartphone models in recent months. In addition, the government in Beijing and some companies in the People’s Republic are restricting the use of iPhones by their employees. They are responding to US sanctions on Chinese companies and export restrictions on technology goods.
As a result, iPhone sales in China fell 30 percent in the first week of 2024 compared to the same period last year, analysts at investment bank Jefferies wrote. In 2023 as a whole it was minus three percent. The experts from research house Canalys also expect a decline in the People’s Republic and stagnant turnover worldwide in 2024.
Chinese online retailers such as Pinduoduo have reduced their prices for various iPhone 15 variants by as much as 16 percent since the beginning of this year. When the current model series was presented in September, the American company did not increase prices for the first time in years.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
