15-1-2024 (BEIJING) Apple is providing discounts of up to 500 yuan (S$95) on its latest iPhones in China for the first time in years, raising concerns about dwindling demand for its flagship device.
The discounts were quietly introduced on Apple’s official Chinese website on January 15 and will be available from January 18 to January 21, just ahead of the Chinese New Year shopping season. The discount amounts to approximately 5% off the price of the top-of-the-line iPhone.
This decision comes at a time when Chinese consumers are showing a growing preference for local brands like Huawei, and there are increasing restrictions on the use of foreign devices in state-backed agencies and companies.
According to analysts at Jefferies, Apple’s latest iPhone 15 performed significantly worse than its predecessor in China after its launch in 2023. They speculate that iPhone sales in 2023 may have dropped by 30% after Huawei introduced the Mate 60 series, which featured a 7-nanometre processor made in China. Despite facing US sanctions, this achievement was celebrated by Chinese state media as a national breakthrough.
While Apple’s retail partners in China have previously offered larger discounts on the latest iPhones, the company itself has not reduced prices on its newest models for several years. Apple typically provides discounts on its products annually ahead of the Chinese New Year, which falls in February 2024 and is considered the country’s most important holiday.
The current discounts apply to a range of devices, including the iPhone 13 and the iPhone 15 Pro Max. Additionally, Apple is offering savings on other products such as the MacBook Air, various iPad models, select AirPods, and the Apple Watch SE. The discount on the MacBook Air can reach up to 800 yuan off its original price, according to information on Apple’s website.
