Chinese retailers have seen a noticeable spike in demand for some models of Apple’s iPhone after recent price cuts, Caixin learned from multiple sources.
Sales of the iPhone 8 rose significantly during the recent Spring Festival period, after prices on many online retailers’ platforms fell by around 1000 yuan ($148) from Apple’s official retail price of 5,099 yuan, Sun Yanwei, the director of industry research company Mobile No. 1 Research Institute told Caixin.
E-commerce platforms including JD.com and Alibaba’s Tmall cut iPhone prices by as much as 1,500 yuan in January after Apple CEO Tim Cook blamed the company’s lackluster performance on poor sales of the phones in China.
Prices also dropped offline, Caixin learned from purchasing managers at multiple provincial iPhone distributors. The managers told Caixin that, during the weeklong Spring Festival holiday, factories were selling the iPhone to distributors for a few hundred yuan less than usual.
Times are tough for Apple in the world’s largest smartphone market. Shipments of iPhones to China have declined steadily since 2015, with domestic rivals seizing increasing market share from Apple.