During the National Day holiday in Chongqing, China, Apple promoted its iPhone 16 series with significant discounts ahead of the Chinese New Year, offering 500 yuan off the iPhone 16 Pro models and 400 yuan off the iPhone 16 and 16 Plus. This marks a shift for Apple, traditionally resistant to direct discounts, as it faces increased competition from domestic brands like Huawei, which has seen a 24% year-on-year growth in shipments. In contrast, Apple’s smartphone shipments dropped by 6%, resulting in a decrease in market share from 16% to 14% in Q3 2024, highlighting the shifting landscape in China’s smartphone market.
