(Yicai Global) Jan. 10 -- Chinese retailers have been encouraged to slash prices for the latest iPhones up to CNY450 (USD66) due to lackluster sales. 

Chinese phone vendors received a message from the US, saying that retail prices for iPhone 8, 8 Plus, XR, XS and XS Max can all be cut, news website National Business Daily reported yesterday. The largest drop is for iPhone XR, that will be priced at CNY5,250 (USD773) at minimum. 

The Cupertino-based tech behemoth lowered its revenue estimate at USD84 billion for the quarter ended Dec. 29 due to unsatisfactory sales in China, Chief Executive Tim Cook said in a letter to investors earlier this month. 

Apple China also embarked on a campaign on New Year's Eve, offering discounts for those who want to trade old devices for new ones or receive gift cards. Customers with handsets from other phone brands, such as Huawei, Oppo, Samsung, Vivo and Xiaomi, could also drop off their old phones at Apple stores and buy a discounted iPhone. Brands that do not qualify for discounts will be recycled for free. 

Editor: Emmi Laine