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Fortune
Fortune
Lionel Lim

HISTORICAL FACTS: Apple slashes iphone prices in china for the second time this year as local competition pressures its sales | History Defined

(Credit: CFOTO/Future Publishing via Getty Images)

Apple just launched another round of discounts in China, an out-of-character move for the company as it tries to maintain its position in the world’s second-largest economy.

Apple started a new round of discounts on Chinese e-commerce platforms like JD.com and Alibaba's Tmall on Monday, slashing prices of the newest iPhone 15 model by over 20%, according to state-run Global Times. Discounts reached as high as 2,300 yuan ($138) on Tmall, Reuters reports. The promotion runs until May 28.

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