Apple has sliced the price of high-end iPhones in China in an apparent attempt to offset dwindling demand for smartphones in the country, according to Bloomberg.
The article says iPhones are selling at discounts of more than $100 in China, “an unusually steep price cut just months after launch that suggests dwindling demand for even its highest-end devices.”
JD.com Inc. and state carrier China Mobile Ltd. are among the retailers taking 800 yuan ($118) off the iPhone 14 Pro range over 11 days. Bloomberg says that retailers in the southern electronics hub of Shenzhen have also begun cutting prices for the same handsets by 700 yuan.
Mainland China’s smartphone market finished 2022 with an annual shipment of 287 million units, a year-on-year decrease of 14%, according to Canalys. This is the first time since 2013 that China’s market shipment has fallen below 300 million units.
