Facing stiff competition and flagging sales in China, Apple has surprisingly broken its stance on discounting, offering up to CNY 500 (approximately Rs. 5,800) off select iPhone models.
This rare price cut, coinciding with Lunar New Year festivities, marks a 5% reduction on certain iPhones and runs from January 18th to 21st.
Analysts suggest this move reflects Apple’s attempt to boost sales in the world’s largest smartphone market, where local brands like Xiaomi and Huawei have been gaining ground.
Huawei and Xiaomi are breathing down Apple’s neck with compelling options, further fueled by potential restrictions on Apple devices in some Chinese institutions, akin to US bans on Chinese apps due to security concerns. Sales figures tell the story – a 30% plunge in the first week of 2024 compared to the previous year, following a 3% dip in all of 2023, and analysts predict even fiercer competition.
Also read : Delhi Metro smashes 6-year New Year’s Day record with over 67 lakh passengers
