Apple Inc. on Monday announced a rare retail promotion in China, offering four days of discounts on its top-end iPhones and related accessories ahead of the launch of the next-generation devices.
The company, usually reluctant to change prices, will cut the price of its top-of-the-line iPhone 13 Pro by 600 yuan ($89) between July 29 and August 1. To qualify for the discount, customers must use one of the selected payment platforms, such as Ant Group Co.’s Alipay. Some AirPods and Apple Watch models are also participating in the promotion.
The discounts come as the Chinese economy struggles to recover from the damage caused by the Covid-19 outbreaks and subsequent lockdowns in business centres in Shanghai and Beijing, which have affected sales of leading domestic smartphone brands from Xiaomi Corp. to Vivo and Oppo.
Apple bucked the trend by registering a healthy increase in shipments in China in June, though discounts suggest it has excess inventory.
Apple is due to report quarterly results Thursday, and the company is expected to show its slowest quarterly sales growth since the early days of the pandemic.
Source: Bloomberg
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