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China gets another iPhone discount for Lunar New Year

iPhone 15 Pro colorful lineup

In a rare but not unprecedented move, Apple has cut the price of the iPhone 15 in China by 5% for a short period.

Apple is known for not discounting its iPhones, or any devices, but it has done so twice before in China — and is now doing it again. The last discount was a considerable $210 drop on the iPhone 14 Pro for China's "618" shopping festival on May 31, 2023.

The latest discount, as reported by Reuters, is a near-repeat of Apple's previous one for the Chinese Lunar New Year. The Lunar New Year is a huge event in the country and is accompanied by many sales.

Reuters is reporting the discount as being in response to intensified competition within China. Separately, analysts have been reporting as much as a 30% decline year on year for the iPhone 15 generation.

Apple is positioning the new discount as specifically being for the Lunar New Year, with the implication that it is both a normal and now an annual participation in the sales event. However, the Lunar New Year is on February 10, 2024, and Apple's sale is running from January 18, 2024, through to January 21, 2024.

According to Reuters, Apple's discount comes after Chinese online retailer Pinduoduo has already been offering the iPhone 15 and iPhone 15 Pro for up to 16% off retail price.

Apple's iPhone is facing increased competition from the re-emergence of Huawei in China, but analysts also say that the iPhone 15 is simply being less well regarded as previous models.