Due to growing competition from local smartphone brands like Huawei in China, Apple has significantly reduced the margin of success for its iPhone sales in the region. In response, the tech giant is offering substantial discounts on the iPhone 16 series, with savings of up to 500 yuan ($68.50).
The discount promotion will run from January 4-7 and will also apply to select other iPhone models when users choose specific payment methods.
The biggest reduction of 500 yuan will be on Apple's flagship iPhone 16 Pro and iPhone 16 Pro Max. Meanwhile, the lower-end variants, including the iPhone 16 and iPhone 16 Plus, will be discounted by 400 yuan.
This price-cutting strategy comes at a time when consumers in China are becoming more cautious with their spending, amid economic improvements and deflationary pressures. China, being the world's largest smartphone manufacturer, has seen Apple’s market share decline due to domestic competition.
Huawei, which made a notable comeback to the premium smartphone market in August 2023, has quickly gained ground in China and emerged as a strong competitor to Apple.
Over New Year's Eve, Huawei attracted attention by offering high-end devices, including smartphones, at discounts of up to 3,000 yuan on popular e-commerce platforms in China.
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