Apple is currently offering discounts on various products in China, including the latest iPhones, with a rare direct discount of 500 Chinese yuan ($70) on its iPhone 15 range, encompassing even the high-end iPhone 15 Pro Max, as it contends with heightened competition and concerns over dwindling demand for its flagship smartphone. This promotional initiative, available until January 21, precedes the upcoming Lunar New Year in mid-February and marks a departure from Apple's usual practice, where such discounts are typically offered by third-party retailers during holiday periods. Analysts at Jefferies, in a January 7 note, estimated a 30% year-on-year decline in Apple's iPhone sales in the first week of the month, attributing the decline in 2023 to heightened competition from local players like Xiaomi and Huawei, the latter having made a successful comeback in the Chinese smartphone market despite U.S. restrictions.
