Various retailers have cut the price of the newest iPhone models in China, according to a new report from CNBC. The price cuts come as part of the major shopping festival in China known as 6.18, which Apple rarely participates in.
The actual 6.18 shopping event takes place on June 18, but JD.com says that it will be holding various discounts every day leading up to June 18, including discounts on Apple products.
The report explains that retailers including Alibaba’s Tmall and JD.com have significantly reduced iPhone prices in honor of the shopping event. Apple is known for strictly controlling its iPhone prices in China and other markets, and this is reportedly only the second time Apple has participated in the 6.18 shopping festival.
Through Tmall, Apple operates its own official store, while JD.com is an official reseller. The discounts are only available through these retailers, and not through Apple directly, whether it be online or in-store.
On Tmall, users can buy an iPhone 11 64GB model for 4,779 yuan ($669.59), down around 13% from its original 5,499 yuan selling price. The iPhone 11 Pro starts at 7,579 yuan down from 8,699 yuan, while the iPhone Pro Max is listed for 8,359 yuan versus the original price of 9,599 yuan. The recently-released iPhone SE, the cheapest in Apple’s range, is priced at 3,099 yuan, down from 3,299 yuan.
Tmall rival JD.com has even steeper discounts. The iPhone 11 64GB model is priced at 4,599 yuan, the iPhone 11 Pro at 6,999 and the iPhone 11 Pro Max at 7,499 yuan. If the full discounts are applied, the iPhone 11 Pro Max is at a more than 21% discount from its original price on JD.com. The iPhone SE is listed at 3,069 yuan with discount, down from 3,199 yuan.
A JD spokesperson said that so far, the transaction volume of Apple products during “the first hour of sales” were three times as high as the same period last year. Notably, this year’s 6.18 shopping promotion festival comes as the China economy continues to reopen following an extended shutdown due to COVID-19.
As such, the CNBC report explains that the heavy discounts on Apple products “shows the fierce competition between the country’s e-commerce giants, vying for consumers’ attention and wallets.”
FTC: We use income earning auto affiliate links. More.
