CHART: Apple is selling the iPhone 15 at a discount in China amid pressure from Huawei

In a move to reignite sales in its most crucial market, Apple is responding to pressure from Huawei with significant price cuts on its iPhone 15 models across mainland China. 

These discounts, running from May 20th to May 28th, are even steeper than the price cuts it offered back in February. 

For example, on its official Tmall store (Alibaba Group), Apple is slashing prices by up to 2,300 yuan ($318) on select models. For instance, the 256GB iPhone 15 Pro Max can now be purchased for 7,949 yuan ($1,199), a considerable decrease from its initial launch price of 9,999 yuan ($1429)

This aggressive pricing strategy comes amidst intensifying competition from domestic tech giant Huawei, whose latest Pura 70 series appears to be capturing consumer interest.

Since late last year, Apple's sales performance in China has been concerning. Sales in the quarter ending December 2023 fell by 13% to $20.8 billion. This subdued performance continued in the first quarter of 2024 with Apple's sales in China declining 19.1%, according to market research firm Counterpoint.