Alibaba's Tmall, JD.com Offer Steep Discounts on iPhones in China, Nikkei Reports
$Alibaba (BABA.US)$ 's Tmall is offering discounts of as much as $140 on some iPhone models in China, while $JD.com (JD.US)$ is selling iPhone 15 at an even steeper markdown as $Apple (AAPL.US)$faces flagging sales in the Asian nation, Nikkei reported.
The promotions by Tmall and JD.com on iPhones started Wednesday and will run until Jan. 31, ahead of the Lunar New Year holiday, according to the Japan-based news organization that also operates the Financial Times. The discounts are about double the markdowns of up to $70 offered in Apple's Chinese website, according to media reports.
The promotions by Tmall and JD.com on iPhones started Wednesday and will run until Jan. 31, ahead of the Lunar New Year holiday, according to the Japan-based news organization that also operates the Financial Times. The discounts are about double the markdowns of up to $70 offered in Apple's Chinese website, according to media reports.
JD.com is selling iPhone 15 starting at 4,949 yuan, a 1,050 yuan or $146 discount, Nikkei said. Online retailers are cutting prices as iPhone faces tough competition with Chinese brands including Huawei, according to the report. China sales of the Apple smartphone brand were down about 30% in the first week of the year, it said.
Still, shares of Apple advanced 2.9% as the US stock market rebounded Thursday, driven by the rally in technology and communication services sectors.
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Former editor at Bloomberg, then Lazard Asset Management. Posts aren’t investment advice. Views are just mine.
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iLEVES : It's useless; everything in heaven and earth is left to the agency to decide. Don't read these news reports
junclj1223 : There isn't just one China in the entire market; we Southeast Asians are also gradually switching to using iPhones.