Amid the competition from local brands, consumers in China are at the end of receiving rare discounts from Apple on iPhone.
As reported by BBC, the tech-giant has announced a four-day promotion on Apple products, starting from January 4.
The event includes up to 500 yuan (approx. 70 dollars) discount on some of Apple’s latest smartphones.
To match up the low cost, Chinese company, Huawei has also cut their prices by nearly 20%.
The discount was a direct response to consumer’s loyalty to their domestic brands and users who struggle to spend any money on international brands amidst the country’s economic problems.
As China with its world-second-largest economy, struggles a lot of consumers are hesitant to spend their hard-earned money on any big purchases.
Due to that, many big retailers, including car makers are forced to used discounts tactics to attract customers.
Will Wong, a senior research manager for market intelligence firm International Data Corporation (IDC) shared, “The value-seeking trend has made price discounts more attractive to consumers. Apple may fall behind other competitors if it doesn’t adopt such a pricing strategy.
Along with that there’s a massive local competition for Apple as its position in Chinese market is never stable with rivals like Xiaomi and Vivo.
As per IDC’s latest reporting, Vivo was China’s best-selling smartphone maker in the third quarter of 2024 as its sales jumped by more than 20% whereas Apple witness a drop of 0.3%.
It is pertinent to note, last year Apple held similar promotional event in China during Lunar New Year.
