iPhone 16 gets a $351 price drop on Chinese e-commerce sites ahead of shopping frenzy
To combat declining market share in China, online retailers are significantly discounting the iPhone 16 ahead of the "618" shopping festival. Platforms like Tmall are offering discounts as high as 2,530 yuan, leveraging government subsidies to stimulate sales. This move follows a quarter where Apple's shipments in China dropped, while local competitors experienced growth.
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In a bid to boost sales in China, where Apple is facing a dip in market share, Chinese online retailers are slashing prices of the iPhone 16 by as much as 2,530 yuan ($351), reported Reuters.The move comes just in time for the highly anticipated '618' shopping festival, with online platforms like JD.com and Alibaba's Tmall offering enticing discounts ahead of one of the biggest shopping events of the year.According to the news agency, JD.com is offering the iPhone 16 Pro with 128GB storage for just 5,469 yuan, a massive 2,530 yuan off Apple's official price of 7,999 yuan.Meanwhile, the iPhone 16 with 256GB is listed at 5,469 yuan as well, offering 1,530 yuan in savings from the original 6,999 yuan price tag, with government subsidies factored in.Not far behind, Tmall is also offering the iPhone 16 Pro for 5,499 yuan, a 2,500 yuan discount when you apply coupons, including government-backed savings, said Reuters.Though Reuters noted that it's unclear whether Apple itself is behind these price cuts, industry experts point out that this is part of Apple's strategy to capitalise on the '618' sales event, which often sees massive discounts on high-demand products.Will Wong, senior analyst at IDC, told the news agency that Apple has employed similar tactics in the past, taking advantage of China's state subsidies to boost iPhone sales.These discounts come after a tough quarter for Apple, with its smartphone shipments in China dropping by 9%.On the other hand, local competitors like Xiaomi and Huawei are thriving, with shipments jumping 40% and 10%, respectively.Apple's price cuts and Chinese government subsidies—especially for budget-friendly smartphones—are part of the ongoing efforts to stimulate consumption in a slowing economy.With subsidies available for smartphones priced under 6,000 yuan, Apple and its e-commerce partners are clearly hoping these aggressive price drops will reignite consumer demand in China.
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