Premium iPhones are being discounted by Chinese retailers

Due to a drop in demand for smartphones, third-party merchants in China are cutting the price of the iPhone 14 Pro by up to 10%.

SHANGHAI: In response to the weak demand for cell phones, independent merchants in China are slashing the price of Apple Inc.’s iPhone 14 Pro by as much as 10%.

Checks of the JD.com app and Suning website revealed that the iPhone 14 Pro basic model is currently available for 7,199 yuan ($1,062) from both electronic suppliers. The difference between it and Apple’s normal price on its official China website is 800 Yuan.

According to Reuters’ analysis of social media ads, a number of other authorised Apple third-party retailers are providing comparable savings on the iPhone 14 pro and Pro Max.

A request for comment from Apple was not immediately complied with.

In an effort to increase demand, Apple occasionally permits its Chinese partner vendors to discount its smartphones.

Although several Android companies have also reduced costs, Jeffries analyst Edison Lee stated in a note to clients that “the return of price decrease even for the best-selling iPhone 14 models is not a healthy sign for demand.”

According to research firm Canalys, China’s smartphone sales in 2022 reached 286 million, the lowest level in a decade, with sales in the fourth quarter falling 14% as a result of weak demand.

According to Canalys, the early release of the iPhone 14 series and supply chain problems brought on by worker unrest at contract manufacturer Foxconn were some of the reasons why Apple sales dropped 24% in the quarter.

The price reductions were initially reported on Sunday by the China Securities Journal.

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