Apple Inc. has announced rare discounts on its latest iPhone models in China, aiming to strengthen its foothold in the world’s largest smartphone market amidst intensifying competition from domestic rivals such as Huawei.
According to Reuters, the four-day promotion, running from January 4 to January 7, offers discounts of up to 500 yuan ($68.50) on select iPhone models as well as MacBook laptops and iPad tablets when purchased using specific payment methods like WeChat Pay or Alipay.
The move comes as Apple contends with a challenging economic environment in China, where slowing economic growth and deflationary pressures have tempered consumer spending. In November, China’s consumer inflation hit a five-month low, reflecting broader economic concerns.
Apple’s market share in China has faced headwinds, slipping briefly out of the top five smartphone vendors in the second quarter of 2024 before recovering in the third quarter. However, according to IDC, Apple’s smartphone sales in China declined by 0.3% year-on-year in Q3 2024, while Huawei’s surged by an impressive 42%.
Huawei has re-emerged as a formidable competitor in the premium smartphone segment since its 2023 launch of devices featuring locally-made chipsets. Over the past weekend, Huawei slashed prices on high-end devices by as much as 3,000 yuan on leading e-commerce platforms, further intensifying competition.
