Apple is offering extraordinary discounts of up to CNY 500 ($68.50 or about Rs 5,874) on its latest iPhone models in China, as it seeks to defend its market share against growing competition from domestic rivals such as US technology giant Huawei. It is moving forward.

The four-day promotion, which runs from January 4 to 7, applies to multiple iPhone models when purchased using certain payment methods, according to its website.

The flagship iPhone 16 Pro with a starting price of CNY 7,999 (roughly Rs. 94,012) and the iPhone 16 Pro Max with a starting price of CNY 9,999 (roughly Rs. 1.17 lakh) will get the highest discount of CNY 500 (roughly Rs. 5,876). The iPhone 16 and iPhone 16 Plus will be discounted by CNY 400 (roughly Rs. 4,701).

The discount comes as consumers remain cautious about spending amid China’s slowing economy and inflationary pressures, with the country’s Consumer inflation fell to a five-month low.

Apple has been struggling with declining market share in China, the world’s largest smartphone market, where local manufacturers have stepped up competition.

Huawei has emerged as a particularly strong challenger since its return to the premium segment in August 2023 with a locally-made chipset. Huawei slashed the prices of various high-end devices, including mobile phones, by up to CNY 3,000 (roughly Rs. 35,250) over the weekend on one of China’s leading e-commerce platforms.

Apple briefly dropped out of China’s top five smartphone vendors in the second quarter of 2024 before recovering in the third quarter. According to research firm IDC, the US company’s smartphone sales in China still fell 0.3 percent during the third quarter from a year ago, while Huawei’s sales rose 42 percent.

The Apple promotion also includes discounts ranging from CNY 200 (roughly Rs. 2,350) to CNY 300 (roughly Rs. 3,525) on older iPhone models, as well as other product categories such as MacBook laptops and iPad tablets. . Customers must use designated payment methods including WeChat Pay or Alipay to qualify for discounts.

© Thomson Reuters 2024

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