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VAT Knocks Down iPhone Prices in China

By Hou Qijiang and Tang Ziyi / Apr 01, 2019 06:48 PM / Business & Tech

Photo: VCG

Photo: VCG

Prices of iPhones in China are falling – again.

Major e-commerce sites including Tmall and JD.com already lowered the phones’ prices twice this year. Now, the cuts are getting an official seal of approval – on Apple’s own website.

For the first time this year, Apple has dropped iPhone prices on its official Chinese website.

On Monday, the smartphone maker lowered prices by between 300 yuan ($44.7) and 500 yuan for all models of the iPhone X, iPhone 8 and iPhone 7, according to its website.

The slash comes in response to China’s reduction of the tax burden for manufacturing and other sectors that began on April 1, Caixin has learned.

The new regulations cut the value-added tax (VAT) for manufacturers to 13%, down from 16%, and the VAT rate for the transportation and construction sectors to 9% from 10%.

The prices on Apple’s website are still not lower than they are on some e-commerce sites, which saw the price tag for iPhone X models fall by as much as 2,000 yuan last month amid lukewarm sales of the phones in China.

Related: iPhone Slowdown Hits Apple’s Chinese Supply Chain

 

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