Why have prices of all iPhone 15 models dropped dramatically in China?

Major Chinese retailers JD.com, TMall, and Pinduoduo are competing for customers by reducing prices on the iPhone 15 just five months after its launch, as Apple faces a significant sales decline in China.

Apple occasionally allows its Chinese partners to offer discounts on its phones to stimulate demand. The release of the iPhone 15 coincided with a slowdown in Apple's sales in China, where it is encountering growing competitive pressure from rivals such as Huawei and Xiaomi.

Last month, Apple offered discounts of up to $70 on iPhones on its official website, which was an unusual move. This week, third-party retailers have lowered prices on all four models of the iPhone 15, including the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max, offering discounts of nearly $200 off the price listed on the Apple website.

Local media reported on the price reductions, and three online stores mentioned that the discounts are part of an upcoming campaign for International Women's Day, which falls on March 8, but did not specify how long the promotions would last.

For instance, Pinduoduo offers on its website the 128GB version of the iPhone 15 for $637, while Apple sells the same smartphone for $833. The iPhone 15 Pro Max with 256GB capacity, usually priced at $1389 in the Apple store, can be purchased for $1236 on JD.com.

Sellers are also offering discounts of up to 10% on the iPhone 14 Pro from Apple.