Apple Boosts iPhone Trade-In Discounts in China to Reignite Lagging Sales

On Friday, Apple Inc. (NASDAQ:AAPL) announced that the company is now offering additional trade-in discounts for new iPhones in China until June 18, 2025.

This initiative aims to stimulate demand in a crucial market where the company has faced increasing competition and declining sales. Apple has increased the trade-in value for old iPhones. For instance, the iPhone 15 Pro Max now has a trade-in value of up to 5,700 Chinese yuan, an increase from the previous 5,625 yuan.

A brand new iPhone 15 Pro Max starts at 7,999 yuan in China. The iPhone 15 Pro model's trade-in value has also risen to up to 4,750 yuan from 4,725 yuan. While these increases are relatively minor (~$11 more for an iPhone 15 Pro Max and $5 for an iPhone 15 Pro), they signal Apple's ongoing efforts to boost sales in the world's second-largest economy.

Apple's market position in China has been challenged by robust local competition from companies like Xiaomi and Huawei. In Q1 2025, Apple's iPhone shipments in China fell by 8% year-on-year, and its smartphone market share in the country decreased from 15% to 13%, according to Canalys data. This follows earlier direct price cuts by Apple in January 2025, including up to 500 yuan off the iPhone 16 Pro during the Lunar New Year shopping season.

Additionally, despite President Trump's temporary pause on most tariffs on China, discussions persist regarding potential special duties on chips and other electronics. Apple Inc. (NASDAQ:AAPL) currently manufactures ~90% of its iPhones in China through its partner Foxconn. However, the company has been exploring diversifying production to India, although Trump has expressed that he would prefer Apple to manufacture devices in the US.

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Disclosure: None. This article is originally published at Insider Monkey.