Apple is offering rare discounts on its latest iPhone models in China. This is seen as the US tech giant's moves to defend its market share against rising competition from domestic rivals like Huawei, according to the Reuters.
Apple is offering discounts up to 500 yuan ($68.50) on its latesst iphone models.
The four day promotion, running from January 4 to 7, 2025, applies to several iPhone models when purchased using specific payment methods, Reuters report said citing Apple website.
The flagship iPhone 16 Pro with a starting price of 7,999 yuan and the iPhone 16 Pro Max with a starting price of 9,999 yuan will see the highest discount of 500 yuan.
According to Reuters, the discounts come as consumers remain cautious with spending amid China's slowinig economy and deflationary pressures, with the country's consumer inflation hitting a five-month low in November.
Apple is grappling with declining market share in China, the world's largest smartphone market, where local manufacturers have intensified competition.
Apple had offered hefty discounts for iPhones in China in May last year as well, according to a CNBC report.
In the first three months of 2024, Apple experienced a 25% year over year decline in sales in China, with its market share dropping from 20% to 15% over the same period, according to data from Canalys.