(Yicai Global) Jan. 31 -- Apple has begun offering trade-in discounts on iPhones on its official online store in China as part of efforts to boost flagging sales in the country.
Buyers can obtain a discount coupon when trading in old handsets for an iPhone XR on the company's flagship Tmall store reducing the price by USD50 to USD887.3.
Apple does not normally offer discounts on products in the run-up to the key Chinese New Year sales period so the move represents a change in strategy for the Californian firm. It follows similar price cuts of the company's products on other major Chinese online sales platforms such as JD, Pinduoduo and Suning.
Apple recently lowered its expected revenue for the first fiscal quarter of fiscal 2019 to USD84 billion, against earlier guidance of USD89 billion to USD93 billion, citing weaker-than-expected sales in China, according to a letter to investors from Chief Executive Tim Cook on Jan. 3.
The American electronics giant is expected to continue to post flagging sales in the coming quarters, according to senior China industry analyst Jin Di.