January 13, 2019 | Investopaper
iPhone new models have been struggling to enjoy the past luxury of reaching into consumers at a high price in China. Chinese consumers have reviewed the new iPhone of not being worthy of its cost and this has forced the retailers to cut down the cost price in an effort to offload the product.
Recently, iPhone has not been able to introduce any new innovative features to attract consumers to buy their product. In China, people have started preferring Huawei smart phones over iPhone by drawing a comparison in their features.
According to reports, one of the largest Chinese retailer Suning reduced the price of iPhone XR 128GB version from $1036 to $858 i.e. 17% discount.
Similarly, other third party sellers have also cut the cost of the struggling phone to off-load the sets at discounted price.
Recently, Apple forecasted the fall in its quarterly profit for the first time in ten years and blamed China for the decline. This news has drawn attention of the company to how to boost its sales in China which is the world largest smartphone market in the world.