Apple cuts iPhone 14 models prices by up to $125 in China to boost sales

TIL Desk/Business/Beijing/ Apple has drastically cut prices of iPhone 14 models by up to $125 (850 yuan) in China to boost sales after it reported revenue decline in the holiday quarter, the media reported on Tuesday.

According to Reports, Apple’s online stores on e-commerce platform JD.com showed a markdown of 800 yuan for iPhone 14 Pro and Pro Max models, with an additional 50 yuan off if the buyer became a member of the online store.

That works out to a 10.6 per cent discount on the 7,999 yuan price of the 128-GB iPhone 14 Pro. Retail stores are also offering price cuts ranging from 600 to 800 yuan on most popular iPhone 14 models.

“Local Shenzhen retail chain Sundan offered a 650-yuan price cut and has run out of inventory for both the Pro and Pro Max models with large storage,” the report said, quoting an employee.

However, the prices of iPhone 14 models remained unchanged on Apple’s official website and offline stores in China. Apple reported $65.8 billion in revenue for iPhones in the holiday quarter, down 8 per cent (year-over-year).