Apple Offers Rare iPhone 15 Discount in China Amid Demand Fears

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Customers wait in line outside an Apple store in Shanghai on Sept. 22, the first day the company’s latest iPhone model went on sale in China. Photo: VCG

(Bloomberg) — Apple Inc. is offering discounts of as much as 500 yuan ($70) on its latest iPhones in China for the first time in years, a rare cut that may deepen fears about dwindling demand for its marquee device.

Apple quietly introduced the savings on its official Chinese website on Monday. The deal runs from Jan. 18 to Jan. 21 ahead of the Lunar New Year shopping season, and the iPhone discount is equivalent to about 5% off its top-of-the-line gadget.