Apple slashes iPhone 15 prices to reignite sales

WEB DESK: In a strategic move to revitalise its presence in the lucrative Chinese smartphone market, Apple has initiated sweeping price reductions on its iPhone 15 models across mainland China.

The tech giant’s latest markdowns, running from May 20 to May 28, surpass the price cuts introduced earlier in February, signaling a determined effort to counter the formidable competition posed by Huawei.

At the forefront of these discounts are offerings on Apple’s official store on Alibaba Group’s Tmall platform, where consumers can enjoy savings of up to 2,300 yuan ($318) on select iPhone 15 models.

Notably, the flagship 256GB iPhone 15 Pro Max now boasts a reduced price of 7,949 yuan ($1,199), down from its original 9,999 yuan price tag upon its September launch.

Similarly, the entry-level 128GB iPhone 15 variant is now available at a discounted rate of 4,599 yuan ($636), significantly lower than its previous price of 5,999 yuan.

These aggressive price adjustments underscore Apple’s reliance on promotional strategies to clear mid-cycle iPhone 15 inventory, as it contends with Huawei’s formidable Pura 70 series, which has garnered considerable traction in the market.

The decision to slash prices comes on the heels of a notable decline in Apple’s sales performance in China, with revenues dropping by 13 percent to $20.8 billion in the quarter ending December, notably below analysts’ projections of $23.5 billion.

This downward trend has been attributed in part to heightened competition from Huawei’s Mate 60 series, which made its debut last August.

However, despite initial setbacks, Apple’s proactive measures, including previous discounts in February, have yielded promising results.

Reuters reports a noteworthy 12 per cent increase in Apple’s shipments in China during March, marking a significant turnaround from the preceding months of 2024, which witnessed a staggering 37 per cent decline in sales.

As Apple navigates the dynamic landscape of China’s smartphone market, these price reductions serve as a strategic maneuver aimed at reigniting consumer interest and reaffirming the tech giant’s competitive position amidst fierce rivalry from domestic contenders.

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