iPhone prices are being slashed in China. The company is trying to get more competitive by cutting the price of some of the flagship smartphones from Apple. The company is keeping the local currency in mind instead of US dollars while determining the prices of the products.
In past few months there have been lots of discussions and debates regarding the innovative features of iPhone. The local smartphones are coming up with several innovative products as compared to Apple. The company decided to make its price more competitive because iPhones had started losing popularity and dominance in the Chinese smartphone market. According to recent reports from research agency IDC, iPhone shipment went down by 20% in the last quarter of 2018. This resulted in the overall revenue loss of 27% in the world market.
The market is getting more and more positive for the local brand Huawei Technologies. When the shipment rate for iPhone reduced in the mid of 2018, the rate increased almost23% for Huawei. With this, the company became the second largest seller for smartphones. Samsung is still leading the race. This ranking was for a short period. iPhone has regained its 2nd ranking in the last quarter. IDC has published another report in January 2019. According to this report, the global shipment for mobile phones plunged by 5% in the 4th quarter. One of the reasons for this reduction may get be because customers are refraining from buying new phones in recent days. Another reason why Apple lost some of its market in India and China is its whooping price. For example, iPhone XS Max costs 1400 dollars; this is twice the price of Huawei Mate 20 and 3 times the price of Xiaomi Mi Mix 3. Chinese phones also have unique features, so the gap in quality of iPhones and local brands is also narrowing down.