Apple is offering limited-time discounts of up to 500 yuan ($68.50) on its latest iPhone models in China, aiming to bolster its market share amid intensifying competition from domestic rivals like Huawei. The four-day promotion, running from January 4 to January 7, includes discounts on several iPhone models when purchased with specific payment methods.
The flagship iPhone 16 Pro and iPhone 16 Pro Max, priced at 7,999 yuan and 9,999 yuan, respectively, will see the largest discounts of 500 yuan. Meanwhile, the iPhone 16 and iPhone 16 Plus will receive a 400 yuan reduction.
Intensified Competition and Economic Pressures
The price cuts come at a time when consumer spending in China is cautious, impacted by the country’s slowing economy and deflationary pressures, with consumer inflation hitting a five-month low in November.
Apple has faced declining market share in China, the world’s largest smartphone market, where local manufacturers have stepped up their game. Huawei has been a particularly strong competitor, re-entering the premium smartphone market in August 2023 with locally-made chipsets. Huawei also slashed prices of its high-end devices, including smartphones, by up to 3,000 yuan over a recent weekend sale on one of China’s major e-commerce platforms.
Apple’s Struggles and Recovery
Apple briefly fell out of China’s top five smartphone vendors in Q2 2024, although it managed to recover by Q3. However, its smartphone sales in the region still declined by 0.3% year-over-year in Q3, while Huawei’s sales surged by 42%, according to research firm IDC.
In addition to iPhones, the promotion also offers discounts of 200 to 300 yuan on older iPhone models, as well as reductions on MacBook laptops and iPad tablets. Customers must use designated payment methods such as WeChat Pay or Alipay to qualify for the discounts.