New Delhi: Apple has slashed the prices of iPhone 14 models in China by up to $125 (850 yuan) to boost sales after falling revenue in the holiday quarter, media reported on Tuesday. According to the South China Morning Post, Apple’s online stores on e-commerce platform JD.com showed a markdown of 800 yuan for the iPhone 14 Pro and Pro Max models, giving an additional 50 yuan discount if the buyer becomes a member of the online store Went.
This works out to a 10.6 percent discount on the 128-GB iPhone 14 Pro’s 7,999 yuan price tag. Retail stores are also offering price cuts ranging from 600 to 800 yuan on the most popular iPhone 14 models.
“Local Shenzhen retail chain Sundan has offered a 650-yuan price cut and has run out of inventory for both the Pro and Pro Max models,” the report quoted an employee as saying. However, the prices of the iPhone 14 models remained unchanged on Apple’s official website and offline stores in China.
Apple reported $65.8 billion in revenue for iPhones in the holiday quarter, down 8 percent (year-over-year). However, on a constant currency basis, iPhone revenue was roughly flat.
Apple faced supply chain disruptions in October and November as China grappled with a surge of Covid and protests broke out at its main supplier Foxconn’s main factory in the country. Apple CEO Tim Cook said that COVID-related challenges “significantly impacted iPhone 14 Pro and iPhone 14 Pro Max supplies and lasted through most of December”.
“Due to these constraints, we had significantly less supply of iPhone 14 Pro and iPhone 14 Pro Max than planned, causing ship times to exceed our estimates,” he said during the company’s earnings call. Cook said that as a result of a challenging environment, “our revenue was down 5 percent year over year”.