Chinese retailers offer steep discounts on the iPhone 15 Series, citing weak sales

Chinese e-commerce sites such as PDD Holdings' Pinduoduo and Alibaba's Taobao are providing steep discounts on Apple's current iPhone 15 series, with some selling models for as little as CNY 900 ($123 or Rs. 10,229) off the regular price.

 

According to analysts, the iPhone 15 has not sold as well in China as its predecessor. According to Counterpoint Research, iPhone 15 sales in China were down 4.5 percent compared to the iPhone 14 in the first 17 days following its market introduction.

 

Apple, Pinduoduo, and Alibaba did not immediately reply to demands for comment.

In China, Apple may occasionally enable partner merchants to provide discounts in order to stimulate demand. However, as customers tighten their pockets amid a weakening economy, Chinese e-commerce platforms have been involved in a "value for money" war, with discounting a primary feature of the upcoming annual Singles Day shopping event.

 

According to Reuters, Pinduoduo is selling the 128 GB iPhone 15 Plus for CNY 6,098 (approximately Rs. 69,312), which is CNY 900 cheaper than Apple's retail price of CNY 6,999 (about Rs. 79,553).

 

The 512 GB iPhone 15 Pro Max, which costs CNY 11,999 (about Rs. 1,36,385) at Apple's store, is available for CNY 10,698 (approximately Rs. 1,21,598) on Alibaba's e-commerce platform Taobao.

On Monday, The Economic Observer weekly publication published on the e-commerce marketplace iPhone 15 discounts.

 

Apple was predicted to acquire a higher percentage of India's smartphone sales last month, according to Counterpoint statistics, with the high-end iPhone 15 Pro and Pro Max models accounting for more of its shipments. According to projections, the business will account for 7% of all smartphone sales in the nation from July to December, up from 5% in the first half of 2023.