Apple Inc. (AAPL.O) is offering rare discounts of up to 500 yuan ($68.50) on its latest iPhone models in China, as it moves to defend its market share against increasing competition from domestic rivals, particularly Huawei.
The four-day promotion, running from January 4 to January 7, applies to several iPhone models and requires purchases made through specific payment methods, according to Apple’s website.
The flagship iPhone 16 Pro, priced at 7,999 yuan, and the iPhone 16 Pro Max, starting at 9,999 yuan, will see the largest discount of 500 yuan. The standard iPhone 16 and iPhone 16 Plus will receive discounts of 400 yuan.
The discounts come as consumer spending in China remains cautious amid a slowing economy and deflationary pressures. The country’s consumer inflation reached a five-month low in November, further highlighting economic concerns.
Apple has faced declining market share in China, the world’s largest smartphone market, as local manufacturers, including Huawei, intensify competition. Huawei has reemerged as a formidable rival since its August 2023 return to the premium segment, supported by its domestically produced chipsets.
Over the weekend, Huawei cut the prices of various high-end devices, including smartphones, by as much as 3,000 yuan on major Chinese e-commerce platforms.
Apple briefly fell out of China’s top five smartphone vendors in the second quarter of 2024 but regained its position in the third quarter. Despite this recovery, Apple’s smartphone sales in China dipped by 0.3% year-over-year in the third quarter, while Huawei’s sales surged by 42%, according to IDC research.
The current Apple promotion also extends to older iPhone models, offering discounts of 200 to 300 yuan. Other Apple products, such as MacBook laptops and iPads, are also included in the sale. To qualify for these discounts, customers must use designated payment methods, including WeChat Pay or Alipay.
