BEIJING, CHINA: From Jan 4 to 7, Apple is slashing up to RMB500 (S$94) off the price of its latest iPhone models in China, as the company works to protect its market share amid rising competition from local rivals like Huawei.
The four-day promotion applies to several iPhone models when purchased using specific payment methods like WeChat Pay or Alipay, according to the company’s website.
According to Reuters, the iPhone 16 Pro, starting at RMB7,999 (S$1501), and the iPhone 16 Pro Max, priced from RMB9,999 (S$1876), will receive the biggest discount of RMB500 (S$94). The iPhone 16 and iPhone 16 Plus will have a RMB400 (S$75) discount.
This move comes as consumers remain cautious with spending, given China’s slowing economy and deflationary pressures. Consumer inflation in the country hit a five-month low in November. Apple is also facing declining market share in China, the world’s largest smartphone market, as local manufacturers ramp up competition.
Huawei has been a particularly strong competitor since it re-entered the premium segment in August 2023 with locally produced chipsets. Over the weekend, Huawei also reduced prices by up to RMB3,000 (S$563) on several high-end devices, including smartphones, on one of China’s major e-commerce platforms.
According to research firm IDC, Apple briefly fell out of China’s top five smartphone vendors in the second quarter (Q2) of 2024, although it regained its position in the third quarter (Q3). Despite this recovery, Apple’s smartphone sales in China still dropped by 0.3% year-on-year (YoY) in Q3, while Huawei’s sales grew by 42%.
The promotion also includes discounts on older iPhone models and other Apple products such as MacBook laptops and iPad tablets, with discounts ranging from RMB200 (S$38) to RMB300 (S$56). /TISG
Read also: Apple brings ChatGPT to its iPhone models, iPads, and Macs this holiday season
Featured image by Depositphotos
