Sellers of last year’s iPhones are now taking a hit in their profits as they are beginning to cut the prices of the phones. At first, this slash of prices was seen only in China, however, now it seems to have followed up to Hong Kong as well.
A report coming in from the Hong Kong news agency has gone on to state that telecom operators have started to slash the prices of the iPhones by several hundreds of Hong Kong Dollars (HKD). It has been stated that the 512GB iPhone XS has seen a price cut of around HKD 2050, and this is equivalent to that of $260.
Apple too has taken action on the matter, as following the poor sales in the region, the company made a decision to lower prices in certain countries.It has also been stated that in China, the price of the new iPhones is reported to have been lowered to the level before even when Renminbi depreciated. As far as the subject for the other countries go, Apple is allowing the price to be based on the local country of the respective country, and not actually based around the US dollars.
Price of iPhones drop in Hong Kong
Good news for Apple is though that with the price slash in mind, this is actually yielding some positive results in the country. Tmall, which happens to be one of China’s top retail online retail stores has gone on to record a 76 percent surge in sales within two weeks of the prices being slashed. There is also a report from Suning – stating an 80 percent increase in sales when the company slashed its prices back in January.