Apple (AAPL.O) is launching a rare four-day promotion in China, offering discounts of up to 500 yuan ($68.50) on its latest iPhone models to compete with domestic rivals like Huawei. The promotion, running from January 4-7, applies to several iPhone models when purchased with specific payment methods, such as WeChat Pay or Alipay.
The flagship iPhone 16 Pro, priced from 7,999 yuan, and the iPhone 16 Pro Max, starting at 9,999 yuan, will receive the largest discount of 500 yuan. The iPhone 16 and iPhone 16 Plus models will be discounted by 400 yuan. The promotion also includes reductions of 200 to 300 yuan on older iPhone models and other Apple products, such as MacBooks and iPads.
This move comes as Apple fights to maintain its market share in China, the world’s largest smartphone market, amid growing competition from local brands. Huawei has been particularly aggressive, offering up to 3,000 yuan off its high-end smartphones and regaining strength since re-entering the premium market with locally-produced chipsets. As a result, Apple’s market share in China has faced pressure, with a slight 0.3% decline in sales in the third quarter of 2024, while Huawei’s sales surged 42%, according to IDC.
Apple’s move reflects China’s slowing economy and deflationary pressures, with consumer inflation at a five-month low in November. Despite challenges, Apple remains committed to retaining its position in the competitive Chinese market.
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