Apple looks to boost sales in China with hefty discounts as e-commerce festival gets underway

Apple is offering discounts on iPhones in China to boost sales during the 618 shopping festival. Chinese e-commerce platforms JD.com and Alibaba’s Tmall are selling select iPhone models with discounts of up to 20%. The 256GB iPhone 15 Pro Max is being sold for 7,949 yuan, a significant discount compared to previous promotions. The discounts are likely aimed at countering competition from local brands like Huawei and addressing slowing iPhone sales. In the first quarter of this year, Apple experienced a 25% decline in sales in China. However, the company has maintained investor confidence with an earnings beat and stock buyback.