Apple has implemented a temporary price reduction on its latest iPhone in China, signaling a strategic response to softer demand after a rally in recent quarters. This move is reported by Bloomberg.
The discounts are limited in duration, running from January 18 to January 21, 2024, a peak sales window before the Chinese New Year. The reduction amounts to 500 yuan, roughly equal to 70 U.S. dollars and about 6,100 rubles. Based on the exchange rate from January 15, 2024, the iPhone 15 price is trimmed by around 5 percent during this promotional period.
Bloomberg notes that this adjustment in official pricing marks a rare step for Apple. Industry commentators cited by Bloomberg suggest the company acted out of concern that demand for the iPhone 15 could falter in one of its principal markets.
Historically, the iPhone 15 faced a tougher market entry in China in 2022 compared with its predecessor. Analysts point to the strong performance of Huawei’s Mate 60 lineup and the effects of a government procurement ban affecting iPhone usage within certain public sector bodies as contributing factors.
In the same wave of promotions, Apple also discounted the new MacBook Air by 800 yuan, which equates to a little over 110 U.S. dollars.
In related financial developments, Apple has faced a downturn in earnings for the year 2023, reflecting a broader recalibration in the company’s recent performance.