Here’s why Apple is cutting iPhone prices in China

Why is Apple so expensive? from CNBC.

via CNBC:

  • Retailers across China are slashing prices of the iPhone.
  • Sales of Apple’s flagship product are down nearly 20 percent in China, according to research firm IDC.
  • Comparable phones in China retail for far less than the price of an iPhone

Retailers across China are slashing prices of the iPhone.

Apple announced last month it would cut prices of some of its flagship devices, by pegging its retail value to local currencies instead of the strong U.S. dollar.

In recent months, there have been growing concerns about the iPhone maker’s ability to innovate — as its Chinese rivals up their game as well. It also comes amid signs that Apple’s growth and dominance in the smartphone market could be under pressure.

iPhone shipments were down nearly 20 percent in China in the fourth quarter of 2018, according to research firm IDC. The slump in China was partially responsible for a 27 percent decline in Apple’s revenue coming from the world’s largest smartphone market.

On the other hand, things are looking bright for Chinese telecoms giant Huawei Technologies.

The smartphone maker saw its shipments in China grow 23 percent in the same time period and in mid-2018, according to IDC. Last year, Huawei became the world’s second largest smartphone seller behind Samsung, surpassing Apple briefly— the iPhone-maker has since reclaimed it’s second place.

 

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