Chinese retailers are offering discounts of up to 10% to customers on iPhone 14 Pro. This is to stimulate demand for the Apple device. Apple may periodically enable its Chinese partner merchants to offer discounts on its phones.
“The return of price cut even for the best-selling iPhone 14 models is not a good sign for demand,” Jeffries analyst Edison Lee wrote in a client note, noting that several Android companies had also reduced pricing.
According to research firm Canalys, China’s smartphone sales in 2022 will be 286 million, the lowest level in a decade, with sales in the fourth quarter falling 14% due to poor demand. learn more
According to Canalys, Apple sales fell 24% in the third quarter, due in part to an early release of the iPhone 14 series and in part to supply chain concerns caused by worker unrest at contract manufacturer Foxconn.
Foxconn, the world’s largest contract electronics maker was among the few companies that ended the year with huge profit margins while others were struggling to survive in an economic climate affected by the pandemic.
The price reductions were initially reported by the China Securities Journal on Sunday.
Apple did not react immediately to a request for comment.