Apple Slashes iPhone Prices in China to Combat Huawei Competition

Significant discounts aim to boost sales during the 618 shopping festival amid declining market share.

Apple offers up to 20% discounts on select iPhone models in China.
The price cuts are part of the 618 shopping festival promotions running from May 20 to May 28.
Apple's market share in China dropped from 20% to 15% in the first quarter of 2024.
Huawei's resurgence with new smartphone models has intensified competition.
Despite global sales challenges, Apple maintains investor confidence with strong financial performance.