No takers for Apple? Chinese retailers are already selling the iPhone 15 at massive discounts

Chinese e-commerce platforms like JD.com, Pinduoduo by PDD Holdings, and Taobao from Alibaba are rolling out substantial discounts on Apple’s newest iPhone 15, with some offering discounts of up to 1,501 yuan (about $205) below the regular retail price. According to analysts, the iPhone 15 isn’t performing as strongly in the Chinese market as its predecessor. In fact, Counterpoint Research reported last week that within the first 17 days after its release, iPhone 15 sales in China dipped by 4.5 per cent compared to the iPhone 14. In China, Apple occasionally allows partner vendors to offer discounts to spur demand. But Chinese e-commerce platforms have also been locked in a “value for money” battle as consumers tighten their belts in a slowing economy, with discounting a key focus of an upcoming annual Singles Day shopping festival. JD.com is selling the 512 GB iPhone 15 for 7,498 yuan, 1,501 yuan lower than Apple’s official price of 8,999 yuan. Asked about the discount, the company said it was in line with a strategy it launched this year of offering low prices. Pinduoduo is offering the 128 GB version of the iPhone 15 Plus at 6,098 yuan, 900 yuan less than Apple’s retail price of 6,999 yuan, according to checks made by Reuters. The 512 GB iPhone 15 Pro Max, which has an 11,999 yuan price tag in Apple’s store, can be bought for 10,698 yuan on Alibaba’s e-commerce platform Taobao. The e-commerce platforms’ iPhone 15 discounts were first reported by the Economic Observer weekly newspaper on Monday. China is one of Apple’s biggest markets and one of the largest markets for smartphones in the world. And while there are many players in the Chinese smartphone market, for years now, Apple has been dominating the premium segment of the market. With the Apple 15 series, and the launch of the Huawei Mate 60, the dynamics are shifting. (With input from agencies)