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China retailers slash iPhone prices after Apple sales warning

SHANGHAI (Reuters) - Several Chinese electronics retailers including Alibaba-backed Suning and JD.com have slashed iPhone prices this week, after Apple recently blamed poor sales of the smartphone in the country for a rare revenue warning. The discounting, as steep as $118 for the recently launched 64GB iPhone XR, is the latest sign that Apple's weak holiday sales in China may have extended to the current quarter. The price cuts on iPhones by Chinese retailers began in the middle of this week, with at least six offering promotions this weekend, according to checks done by Reuters. Such widespread price cuts are not uncommon around shopping festivals like Single's Day in November, but these cuts stand out as they affect Apple's latest XS and XR models that were released only months ago, said Mo Jia, a Canalys analyst who tracks China's smartphone industry.

First found on: www.reuters.com And then on: 4 other references