BEIJING: American tech giant Apple is offering discounts of up to $68 on its latest iPhone models in China.
The move aims to defend its market share against rising competition from Chinese tech rivals like Huawei.
The four-day promotional campaign, running from January 4-7, is applicable on several iPhone models when bought through specific payment methods, according to its website.
The iPhone 16 Pro with a starting price of $1,095 and the iPhone 16 Pro Max with a starting price of $1,370 will see a maximum discount of $68. The iPhone 16 and iPhone 16 Plus will receive a $55 discount.
The development comes as consumers remain cautious with spending with the Chinese consumer inflation hitting a five-month low in November.
Apple is facing a declining market share in China, the world’s largest smartphone market, where local manufacturers have increased competition.
Huawei has become a relatively strong challenger since its return to the premium segment in August 2023 with locally manufactured chipsets. Huawei reduced the prices of a variety of high-end devices, including mobile phones, by up to $410 over the weekend on China’s leading e-commerce platforms.
Apple briefly dropped out of China’s top five smartphone vendors in the second quarter of 2024 but managed to recover in the third quarter. Despite this rebound, the company’s smartphone sales in China still declined by 0.3% year-on-year during the third quarter, while Huawei saw a significant 42% increase in sales, according to research firm IDC.
As part of a promotional campaign, Apple is offering discounts from $27 to $41 on older iPhone models, along with price cuts on other products such as MacBook laptops and iPad tablets. To qualify for these discounts, customers must use designated payment methods like WeChat Pay or Alipay.
