Chinese retailers offer deep iPhone 15 discounts

Beijing: Chinese e-commerce platforms including JD.com (9618.HK), PDD Holdings' (PDD.O) Pinduoduo and Alibaba's (9988.HK) Taobao are offering big discounts on Apple's (AAPL.O) latest iPhone 15, with some going for up to 1,501 yuan ($205.14) below the retail price.

Analysts say the iPhone 15 has not been selling as well in China as its predecessor. Counterpoint Research said last week that iPhone 15 sales in China were down 4.5% compared with the iPhone 14, in the first 17 days after its market launch.

In China, Apple occasionally allows partner vendors to offer discounts to spur demand. But Chinese e-commerce platforms have also been locked in a "value for money" battle as consumers tighten their belts in a slowing economy, with discounting a key focus of an upcoming annual Singles Day shopping festival.

JD.com is selling the 512 GB iPhone 15 for 7,498 yuan, which is 1,501 yuan lower than Apple's official price of 8,999 yuan. Asked about the discount, the company said it was in line with a strategy it launched this year of offering low prices.

Pinduoduo is offering the 128 GB version of the iPhone 15 Plus at 6,098 yuan, which is 900 yuan less than Apple's retail price of 6,999 yuan, according to checks made by Reuters.

The 512 GB iPhone 15 Pro Max, which has a 11,999 yuan price tag in Apple's store, can be bought for 10,698 yuan on Alibaba's e-commerce platform Taobao.

Apple, Pinduoduo and Alibaba did not immediately respond to requests for comment.

The e-commerce platforms' iPhone 15 discounts were first reported by the Economic Observer weekly newspaper on Monday.

($1 = 7.3170 Chinese yuan renminbi)

SOURCE: REUTERS