Apple increased the amount of money people in China can get off their next iPhone by trading in their old one on Friday. This is another move by Apple to boost demand in a key market.
The iPhone 15 Pro Max is now worth up to 5,700 Chinese yuan ($791) more than it was before, when it was only worth 5,625 yuan. In China, the price of a brand-new iPhone 15 Pro Max starts at 7,999 yuan. You can now trade in your iPhone 15 Pro for up to 4,750 yuan, up from 4,725 yuan before.
You can also get more money for your trade-in when you buy other types.
In the past year, Apple has tried to offer deals, especially in China around busy holiday times. Even though the most recent price increases aren’t big, they show that Apple is still trying to boost sales in the world’s second-largest economy, where it has been losing market share and sales because of tougher competition from local companies.
According to Canalys, Apple’s share of the smartphone market in China dropped from 15% to 13% in the first quarter of the year, while the company’s sales fell 8% year-over-year. This month, Apple also said that sales in its Greater China region, which includes Hong Kong and Taiwan, were down a little year over year.
But Apple has more problems in China than just sales. There are also problems with its supply chain and goods. For now, U.S. President Donald Trump has stopped putting most tariffs on China, but people are still talking about whether chips and other gadgets should get a special duty.
Apple makes about 90% of its iPhones in China with the help of its manufacturing partner Foxconn. The company wants to move more production to India, but Trump doesn’t like the idea. This month, the head of the White House said he told Tim Cook, the CEO of Apple, that he doesn’t want the business to make products in India. Instead, he wants Apple to make devices in the U.S.
Xiaomi and Huawei are Apple’s main competitors. In the last 17 months, Huawei has had a huge comeback in its home market thanks to breakthroughs in chips and quick releases of new products.
Xiaomi, which had the largest market share in China in the first quarter, has been stepping up its efforts to fight directly with Apple in the high-end device space. The company released the Xiaomi 15S Pro smartphone on Thursday. It has a chip that was made by the company itself, which is something that not many companies have been able to do successfully.
Xiaomi has also promised to spend almost $7 billion over the next 10 years making more chips. This shows that it wants to fight with Apple and Huawei.
