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Apple flagship store in Shanghai in November 2023.
Costfoto | Nurfoto | getty images
Apple Its website shows it is offering discounts on a range of its products in China, including the latest iPhones, as it faces increased competition and growing fears of a decline in demand for its flagship smartphones.
Between January 18 and January 21, Apple is offering up to 500 Chinese yuan ($70) off its iPhone 15 range, including the most expensive iPhone 15 Pro Max.
Discounts are also available on some Mac models and iPads. These offers come ahead of the Lunar New Year in mid-February.
While third-party retailers in China sometimes offer discounts on iPhones during holiday periods, it is extremely rare for Apple to do so on its own retail channel.
In a note on January 7, Jefferies analysts estimated that Apple experienced a 30% decline in iPhone sales year over year in the first week of this month. Jefferies also said that Apple sees a 3% year-over-year decline in iPhone sales in China in 2023.
This is mainly due to increasing competition from local players like Xiaomi and Huawei, which are offering competitive high-end products.
Last year, Huawei launched a smartphone that contained a high-end chip despite US sanctions designed to prevent the Chinese tech giant from getting its hands on such technology. State media hailed it as a technological breakthrough. That equipment has helped Huawei boost its sales and make a comeback in the smartphone market in China after its handset business was hit hard by US sanctions.
Jefferies attributed Apple’s iPhone decline last year partly to Huawei’s devices.
