SHANGHAI: Chinese online retailers have started discounting iPhones for the second time this year as Apple wrestles with a prolonged sales slowdown in the world’s largest smartphone market.
Several electronics vendors announced discounts on iPhone devices this week, following mass discounts in January just before Apple reported sinking sales in China.
Gadget retailer Suning.Com Co. Ltd. said it would slash the price of the iPhone XS by as much as 1,000 yuan ($148.95) from its official price. Suning had lowered the prices of other iPhone models in January along with other retailers, but those cuts excluded the iPhone XS.
Pinduoduo Inc, an e-commerce site best known for selling inexpensive goods, has also said it would sell the 64GB edition of the iPhone XS for 6,999 yuan, a drop of over 1,000 yuan from the official price.
Online retail giant JD.com Inc. said it would offer discounts on a range of Apple products including the iPhone XS and XS Max, with models of the latter device selling at discounts of up to 1,700 yuan. Like Suning, JD.com initially did not discount the iPhone XS upon its first major round of discounts in January.
Apple, JD.com and Pinduoduo did not respond to requests for comment, while Suning could not be reached.
Apple’s sales from China declined 20 percent year-on-year, according to its most recent earnings report. Slowing demand for smartphones and increased competition from local brands have chipped at its dominance in the country.
The US company has yet to change the official sticker prices of its devices that it lists on its Chinese website. Yet the company has partnered with Ant Financial, the finance arm of Alibaba Group Holding Ltd, and several state-owned banks to let consumers purchase iPhones via interest-free loans.
Chinese online retailers slash Apple iPhone prices for second time this year
Chinese online retailers slash Apple iPhone prices for second time this year
- Several electronics vendors announced discounts on iPhone devices this week
- Mass discounts were also offered in January just before Apple reported sinking sales in China
PIF Private Sector Forum sees multiple deals across key sectors
RIYADH: The first day of the PIF Private Sector Forum marked the signing of several agreements spanning travel, entertainment, advanced manufacturing, innovation, urban development, and industrial sectors.
In the tourism, travel, and entertainment sector, a memorandum of understanding was signed between the Public Investment Fund’s Dan Co. and Fresh on Table to expand the latter’s platform in Saudi Arabia, enhance cooperation, and establish consolidation centers in Dan Co.’s facilities across targeted cities.
Dan Co. also signed an MoU with DRB Arabia to collaborate on the development of the Tuaja Resort Community Center in Al-Ahsa, establishing a framework for cooperation between the two parties.
King Abdullah Economic City and Almosafer Travel and Tourism Co. agreed to a joint venture to support tourism promotion and destination marketing.
Cruise Saudi and FlyAkeed signed an MoU to strengthen initiatives in travel optimization and digital innovation, while FlyAkeed also partnered with Al-Ula Club to explore opportunities in automation and digital transformation. Additionally, the PIF and FlyAkeed signed an MoU to advance digital travel solutions and enhance service delivery leveraging FlyAkeed’s capabilities.
In urban development and livability, the PIF signed an MoU with ABB Academy to develop the Saudi workforce through targeted training programs. Another agreement with Saudi Tabreed will explore expanding high-quality district cooling solutions for large-scale developments, aligning with national sustainability goals. Fraunhofer IAO will collaborate with the PIF on waste management and innovative construction methods to support smart city development.
The industrial and logistics sector also saw multiple agreements. Nupco signed an MoU with Saudi Awwal Bank to strengthen healthcare supply chains, while Saudi Arabia Railways partnered with Siemens Mobility to localize manufacturing, develop the Kingdom’s rail infrastructure, and advance industrial capabilities. The Royal Commission of AlUla signed a deal with TASAMA to support its operational and strategic objectives.
In advanced manufacturing and innovation, Tasaru Mobility Investments signed multiple agreements with Masarat Mobility Park, Shin Young, JVIS, Benteler, Lear Corp., and Fangxin. Electric vehicle maker Lucid also inked deals with Benteler, JVIS, Shin Young, and Lear Corp.
Saudi Arabia’s first homegrown EV brand, Ceer, signed agreements with Mino, Natpet Schulman Specialty Plastic Compounds, Xinyi Glass, MK Tron, Sika, Saudi Controls, AVL, FEV, Zamil Trade and Services, Zamil Plastics, and Arabian Plastic Industrial Co. CEO James DeLuca highlighted that Ceer is set to sign 16 agreements valued at SR3.7 billion ($990 million) at the forum, noting that 90% of these are commercial contracts rather than MoUs.
