Apple offers rare iPhone discounts

Apple is offering rare discounts of up to 500 yuan ($68.50) on its latest iPhone models in China.

The motive behind the move is to defend its market share against rising competition from domestic rivals like Huawei.

The company is running a four-day promotion campaign staring from Jan. 4 and conclude on 7^th of the month where several iPhone models can be purchased using specific payment methods.

The flagship iPhone 16 Pro with a starting price of 7,999 yuan and the iPhone 16 Pro Max with a starting price of 9,999 yuan will see the highest discount of 500 yuan.

The iPhone 16 and iPhone 16 Plus will receive a 400 yuan reduction.

The discounts come as consumers remain cautious with spending amid China’s slowing economy and deflationary pressures, with the country’s consumer inflation hitting a five-month low in November.

Apple is grappling with declining market share in China, the world’s largest smartphone market, where local manufacturers have intensified competition.