iPhone 14 Pro on sale in China at $120 discount due to plummeting demand

People in China are buying Apple's next-generation flagship smartphones less frequently. Because of this, some shops have been forced to reduce the price of the iPhone 14 Pro, which is rare.

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Even though the iPhone 14 series debuted less than six months ago, the Pro and Pro Max versions are already available in China at a discount of more than $100. In particular, cellular operator China Mobile is offering customers a savings of $120. Meanwhile, the Chinese Apple shop is selling the smartphones at the starting price.

The discounts come on the eve of the Lunar New Year. How long they will last is not yet known, but their appearance shows a drop in demand for the American company's tech in its biggest market.

Jefferies estimates that discounts on Apple electronics have increased markedly since January 2023. Meanwhile, shipments of iPhone 14 models compared to iPhone 13 dropped 28% at the start of sales.

Recall that Apple recently reported the biggest drop in revenue since 2016. Last quarter's revenue was $117.2 billion, down 5% year-on-year.

Source: Bloomberg