Following poor sales of the new iPhones, sellers are beginning to cut prices. The slash which started in China has made its way to Hong Kong.
A report from the Hong Kong News Agency says telecom operators have begun to slash prices by several hundreds of Hong Kong Dollars (HKD). The 512GB iPhone XS is said to have received a price cut of HKD 2050 (~$260).
Following poor sales in the region, Apple decided to lower prices in certain countries. In China, the price of the new iPhones is reported to have been lowered to the level before the Renminbi depreciated. For other countries, Apple is allowing the price to be based on the local currency and not based on US Dollars.
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This price slash is already yielding positive results in China. Tmall, one of China’s top online retail stores recorded a 76% surge in sales within two weeks of slashing prices. Suning also reported over 80% increase in sales when it slashed prices in January.
