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Fortune

Lionel Lim

Apple offers a rare $70 discount on the iPhone 15 in China as competitors from Huawei and Honor eat into its market share

Apple Huawei Honor China Ivan Lam Will Wong Counterpoint Research IDC

(Credit: CFOTO—Future Publishing via Getty Images)

Chinese shoppers don’t seem wowed by Apple’s newest iPhone, and that’s pushing the U.S. tech company to do something drastic: offer a rare discount.

Apple is discounting its latest iPhone by up to 500 yuan, or about $70, on its official website in China. The cut is roughly equal to 5% of the cost of an iPhone Pro Max 256GB model in mainland China. The three-day discount, which will run from Jan. 18 to 21, is marketed as a sale attached to the Lunar New Year, which falls in early February.

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