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Fortune

Lionel Lim

Apple slashes iPhone prices in China for the second time this year as local competition pressures its sales

Apple China Huawei Tim Cook Will Wong Counterpoint Research Economy Tmall

(Credit: CFOTO/Future Publishing via Getty Images)

Apple just launched another round of discounts in China, an out-of-character move for the company as it tries to maintain its position in the world’s second-largest economy.

Apple started a new round of discounts on Chinese e-commerce platforms like JD.com and Alibaba's Tmall on Monday, slashing prices of the newest iPhone 15 model by over 20%, according to state-run Global Times. Discounts reached as high as 2,300 yuan ($138) on Tmall, Reuters reports. The promotion runs until May 28.

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