Apple is handing out as much as CNY 500 ($68.50) of discounts on its latest iPhone in China, an unprecedented move to maintain its market share from the country’s domestic phone makers like Huawei.
According to Apple’s website, the campaign would run from 4-7 January, with several iPhone models eligible for discount when purchased using a certain payment method.
Apple’s flagship iPhone 16 Pro with starting price of CNY 7,999 and iPhone Pro Max with a starting price of CNY 9,999 will be receiving the highest discount of CNY 500, while cheaper iPhone 16 and iPhone 16 plus would be eligible for CNY 400 discount.
Apple’s discount came as China consumer inflation has been hitting with low consumer inflation, with November hitting a five-month low, a result of the country’s economy slowing down and pressures from deflation.
Apple is also dealing with its weakened position in the Chinese market as local producers have intensified competition.
After Huawei returned to the premium market in August 2023, the phone maker emerged as Apple’s direct competitor with a domestically produced chipset and aggressive price cuts on numerous high-end devices including smartphones, with up to CNY 3,000 discount over the weekend on one of China’s major e-commerce platforms.
Apple briefly dipped out of China’s top five smartphones in 2Q24 before regaining its position in 3Q24, though its sales shrank 0.3% in the same quarter, while Huawei’s sales rose by 42%, according to research firm IDC.
