New York CNN —Apple is offering temporary discounts on its iPhones and other products in China, in an extremely rare move for Apple that comes as competition within Asia’s smartphone market grows more intense.
Although third-party sellers at times discount Apple products, Apple itself very rarely offers deals or sales, part of its effort to maintain a premium brand image – something that has been particularly important as Apple seeks to attract high-end buyers in China.
The new discounts on the iPhone in China are raising fresh questions about how demand for Apple products is faring recently in the world’s second-largest economy.
China has long been a key market for the iPhone maker, with roughly one-fifth of Apple’s overall sales last year coming from China.
Last week, Apple lost its status as the stock market’s most valuable company, taking a back seat to Microsoft.
Persons:
Yong Xiong
Organizations:
New, New York CNN, Apple, Mac, Huawei, Wall Street Journal, Research, Jefferies Research, Reuters, Microsoft
Locations:
New York, China