Apple is lowering prices in China

Apple Inc is trying to curb its loss of market share in China by lowering its retail prices for its mobile phones. To compete with China’s successful smartphone makers, Apple has instructed its Chinese distributors to slash iPhone prices.

Shanghai Daily reports that the Apple has cut its wholesale prices for most iPhones, including the iPhone XS, iPhone XR and iPhone X. According to distributors in Shenzhen, prices dropped by 450 yuan (US$65.20.

Apple is also said to be offering big discounts for iPhone trade-ins. According to the report, prices of the iPhone XR and iPhone XS on Chinese online shopping platforms like JD.com, Pinduoduo and Taobao.com are already about US$100 or more cheaper than Apple’s own published prices. Tech analysts believe that Apple is allowing more leeway for prices and sales channels for distributors.

Apple’s actions follow recent announcements that Apple has cut its revenue forecast for the last quarter of 2018, as the company was hurt by lower-than-expected iPhone sales in emerging markets, especially in China where competition with local brands is fierce.

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