Apple Sells the iPhone 15 at a Rare Discount in China as Competition Rises

Apple is giving unprecedented discounts on its iPhones in China, slashing retail prices by up to 500 yuan ($70) amid rising competition pressure in the world’s largest smartphone market.

The limited-time deal, dubbed a Lunar New Year event, will run from January 18 to January 21 in preparation for the mid-February holiday.

In China, sales of Apple’s current iPhone 15 devices have been much lower than prior versions.

Chinese iPhone sales fell 30% in the first week of 2024 compared to the same time a year ago.

Analysts predict the competitive situation to get more difficult this year.

Since the start of the year, online shopping portals such as Pinduoduo have reduced the price of the iPhone 15 and iPhone 15 Pro by up to 16%.