Chinese Retailers Forced to Sell Apple’s Latest iPhone Models With Huge Discounts

Apple is looking at a weak financial quarter as demand for its latest iPhone models plunges in Chinese markets. Several local retailers, including Alibaba-backed JD.com and Suning, have introduced huge discounts on Apple’s top-of-the-line smartphones, according to CNBC. Suning slashed the price of 128 GB iPhone XR model from $1,036 to $858 – a 17.1% discount. Another retailer is selling iPhone XS, Apple’s most premium smartphone, for $1,436, which is almost $200 less than Apple’s official price in the US. Pinduoduo and Taobao.com, two renowned online electronics retail stores, are also selling iPhone XS and iPhone XR models $100 cheaper than their US rates, Shanghai Daily reports. Chinese consumers are looking for cheaper and more feature-rich alternatives like smartphones produced by Huawei. Dumping iPhones Smashed iPhone. Image from Shutterstock. Mo Jia, an analyst with Shanghai-based Canalys, noted that both iPhone XR and iPhone XS are relatively new models and introducing…

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