Apple launched an iPhone redemption plan, which can be redeemed up to 5,700 yuan, lasting until June 18. Sales in Greater China have continued to decline, and Apple has fallen into a price war.
Looks like Apple is feeling the heat from local competitors like Huawei and Xiaomi. Extending trade-in discounts in China could be a move to boost iPhone sales ahead of the 618 shopping festival. Interesting to watch how this impacts AAPL’s China revenue this quarter.