Chinese e-commerce firms give deep discounts on iPhone 15

Chinese e-commerce giants, including JD.com, Pinduoduo, and Taobao, are currently providing substantial discounts on Apple's latest iPhone 15, with some models available at prices up to 1,501 yuan ($205.14) below the retail cost. Despite this aggressive discounting, sales of the iPhone 15 in China have not matched the performance of its predecessor, with a 4.5 per cent decline reported by Counterpoint Research in the first 17 days following its market launch.

Apple occasionally permits partner vendors in China to offer discounts to boost product demand. However, the Chinese e-commerce platforms are also engaged in fierce competition to offer consumers the best value for their money, reflecting the economic slowdown and consumer belt-tightening. These platforms are focusing on discounting as a central strategy in preparation for the upcoming annual Singles Day shopping festival.

(With Reuters Inputs)