IPhone Prices Slashed, Heavy Discounts Offered

The discounting, as steep as $118 for the recently launched 64GB iPhone XR.

The discounting, as steep as $118 for the recently launched 64GB iPhone XR.

Suning announced on Friday that it would start selling the 64GB iPhone XR for 5,699 yuan, 800 yuan ($118.46) less than the device’s sticker price in China. It is also selling the 64GB version of the iPhone 8 for 3,899 yuan, a 1,200 yuan discount.

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.