Apple is the largest company in the world and its market cap in the whole world is about 20.1% which is more than any other brand in the world. This is the reason why Apple never gives discounts on its phones, but recently the sales of iPhones declined so much that it had to give huge discounts on its smart phones.
China is the world’s largest smartphone market. Apple also has a lot of dominance in this market. But in recent times, Apple has been struggling to maintain its strong position in China.
Reason for decline in iPhone sales
iPhone sales in China have declined by nearly 30% in the first week of 2024. This decline has been caused by several factors, including:
- Strong competition from Chinese companies: In China, companies like Huawei Technologies and Xiaomi are giving tough competition to Apple. These companies are offering great smartphones at attractive prices.
- Bumper offers: In China, tech companies like Huawei Technologies and Xiaomi are giving bumper offers, due to which Apple’s sales declined by 30% in the first week of 2024.
- US government restrictions: The US government has imposed restrictions on Chinese apps. Because of which the Chinese government is also forbidding its citizens from using American products. Due to which the sales of iPhone are being affected.
Discount on iPhone
The company had not reduced the prices of iPhone for a long time, but there has been a huge decline in the sales of iPhone 15 released this year. Keeping this in view, the company is giving huge discounts on iPhone.
The company has cut iPhone prices in China by 5%. Due to which iPhone 15 is available in China at a discount of CNY 500 (about Rs 5,800).
Offer last Date
This offer was started by the company on New Year and it was to end by 18th or 21st January but now its date has been extended to mid-February.