According to a report by Bloomberg on Thursday, Apple (NASDAQ:AAPL) resellers in China are cutting the price of iPhone 15 models by up to $180, hinting at a prolonged slump in demand.
The discounts are said to have appeared after the Lunar New Year holiday, not long after rare price reductions on Apple’s website in January.
The iPhone 15 Pro Max is now available at a discount of 1,300 yuan ($180) on Alibaba Group Holding Ltd.’s Tmall, said the publication. It represents a more significant reduction in price than the around $120 discount the company offered on its smartphone lineup around this time last year.
Furthermore, Bloomberg says there are comparable reductions on JD.com's online platform, although the Apple store has continued selling the devices at the original prices.
There have been continued concerns regarding the demand in China for the latest iPhone generation, with economic conditions in the country and the resurgence of Huawei’s smartphone business providing headwinds.