Tim Cook Feels China's Homegrown Heat As Apple Slashes iPhone Prices Second Time This Year In Asian Nation
Portfolio Pulse from Rounak Jain
Apple Inc. (NASDAQ:AAPL) has launched a significant discounting campaign for its iPhone models in China, offering discounts of up to $318. This move aims to counter increased competition from local rivals like Huawei. The campaign runs from May 20 to May 28 and follows a previous discounting effort in February. Despite challenges, some analysts remain optimistic about Apple's future in China.
May 20, 2024 | 10:46 am
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Apple has initiated a significant price reduction for its iPhone models in China to counter increased competition from local rivals like Huawei. The discounting campaign, which runs from May 20 to May 28, offers discounts of up to $318.
The price reduction is a strategic move to maintain market share in the face of rising competition from Huawei. While this may boost short-term sales, it could also impact profit margins. The market's reaction has been neutral so far, as indicated by the slight premarket decline in Apple's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100