Underperforming iPhone 15 increasingly dependent on discounts in world’s largest market،
Chinese retailers have slashed the price of the iPhone 15 in hopes of boosting demand, reports Bloomberg.
Since its release, the iPhone15 his family is in difficulty in China. The deflation of the Chinese economy, the ban on iPhone use in government agencies and state-backed companies, and the resurgence of Huawei are the main reasons why Apple's latest phones are failing. are not doing well in the world's largest smartphone market.
Chinese retailer Tmall, owned by Alibaba Group, has marked down the iPhone 15 Pro Max by $180, which is $60 more than the price cut offered last year during the same period. Popular retailer JD.com also offers a similar deal.
Reuters reports that some retailers have also discounted the iPhone 14 Pro by 10% to attract demand.
Although Apple's official website doesn't offer any discounts on the latest models at the moment in China, the company slashed prices by up to $70 in January. This was the first time in years that the company offered a discount on its new models.
Additionally, Apple is also believed to be behind the latest discounts, with Counterpoint Research reporting that the company is “offering short-term promotional pricing to third-party channels as an early promotion for International Women's Day.”
Chinese consumers can expect more such discounts in the future, as Counterpoint Research observed that iPhone sales in the country are “becoming increasingly dependent on promotions.”
Pressure is also mounting from other Chinese companies like Oppo and Vivo. In January, iPhone sales declined 10% year-over-year, while Huawei's sales grew by triple digits during the same period, according to IDC.
