Apple (AAPL, Financial) announced a promotional event on its Chinese website, offering discounts from January 4 to January 7. Customers can save up to 800 yuan by purchasing specific products with eligible payment methods. The flagship iPhone 16 Pro starts at 7999 yuan and the iPhone 16 Pro Max at 9999 yuan, both receiving a maximum discount of 500 yuan. Meanwhile, the iPhone 16 and iPhone 16 Plus are reduced by 400 yuan.
This move is part of Apple's strategy to address its declining market share in China, the world's largest smartphone market, where competition from domestic manufacturers is intensifying. Huawei, in particular, has become a formidable competitor since re-entering the high-end market in August 2023 with domestic chipsets. Huawei reduced prices for high-end devices, including phones, by up to 3000 yuan.
Apple's promotion includes discounts on older iPhones, iPads, and Mac products, with the 13-inch MacBook Air (M2) discounted by 600 yuan and the 15-inch MacBook Air (M3) by 800 yuan. Limited quantities are available in Apple Store retail outlets. Customers must use designated payment methods like WeChat Pay or Alipay to avail of the discounts.
