Why do iPhone 15 prices continue to decrease in China?

iPhone 15 prices in China have hit new lows after Apple made another move to woo buyers. It is reported that the official flagship Apple Store Tmall has launched trade, an exchange service in which buyers can exchange their old iPhones for new ones.

Many Apple-authorized stores, such as China Mobile's flagship store, have also launched this trade-in program, with a maximum discount of $140 on the iPhone 15 series. After that, the price of the iPhone 15 (with 128 GB of built-in memory) starts at $630.

NEWS.am Tech previously reported that China's largest retailers JD.com, TMall and Pinduoduo are fighting for customers by lowering iPhone 15 prices just five months after their launch, as Apple's sales in China have fallen significantly and the company is under increasing pressure from rivals such as Huawei and Xiaomi.

Last month, Apple offered discounts of up to $70 on iPhones on its official website. In late February, third-party retailers slashed the prices of all four models in the iPhone 15 series: iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. Moreover, the discounts reached about $200 (compared to the price indicated on Apple's website).