Residents of China have become less likely to buy Apple’s flagship smartphones of the new generation. Because of this, some stores are forced to reduce the cost of the iPhone 14 Pro, which is rare.
What is known
Although the iPhone 14 series debuted less than half a year ago, the Pro and Pro Max versions are already available in China with a discount of over $100. In particular, the cellular operator China Mobile offers customers to save $120. At the same time, the Chinese Apple store sells smartphones at a starting price.
Discounts appeared on the eve of the New Year according to the lunar calendar. How long they will last is still unknown, but their appearance indicates a drop in demand for the equipment of an American company in its largest market.
Jefferies estimates that discounts on Apple electronics have increased markedly compared to January 2023. At the same time, shipments of iPhone 14 models in comparison with the iPhone 13 fell by 28% at the start of sales.
Recall that Apple the other day reported about the biggest drop in revenue since 2016. Last quarter, revenue was $117.2 billion, down 5% year-on-year.
Source: Bloomberg
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