Apple’s iPhone Steeply Discounted in China on Weak Demand

(Bloomberg) — Apple Inc.’s resellers in China are slashing the price of iPhone 15 models by as much as $180, signaling an unusually prolonged drop off in demand.

iPhone 15 Pro Max handsets are now selling at 1,300 yuan ($180) lower than their original on Alibaba Group Holding Ltd.’s Tmall. It’s a steeper drop than the roughly $120 discount the company offered on its smartphone lineup around the same time last year, and there are similar reductions on JD.com Inc.’s online platform. Apple’s own store is selling its devices at the original price.