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Apple is reportedly taking steps to boost declining sales in China by lowering the prices of the iPhone 14 Pro and iPhone 14 Pro Max. According to a recent Bloomberg report, online retailers such as JD.com have reduced the prices of these high-end iPhone models by 800 yuan ($118) in recent days.
Meanwhile, retailers in Shenzhen have started cutting prices by 700 yuan. However, it should be noted that Apple’s own website in China is still offering the devices at regular prices.
The price cuts are a sign that Apple is facing weakened demand for the iPhone 14 series in China, following the company’s lackluster financial results for the first quarter of fiscal 2023.
Apple posted quarterly revenue of $117.2 billion, a 5 percent decrease year-over-year and marking the company’s first sales decline since 2019.
It remains to be seen if Apple will extend the lower pricing for the iPhone 14 Pro series to its own stores in China or if the discounts will remain exclusive to third-party retailers.
This rare move by Apple to lower prices in China shows the company’s effort to regain traction in a market that has long been crucial to its success. Whether or not this strategy will pay off remains to be seen, but it is clear that the tech giant is taking steps to address declining sales and remain competitive in a rapidly evolving market.