Apple iPhone 16 Discounts Roll Out on Alibaba's Tmall, AI Delays and Domestic Competitors Fuel Aggressive Pricing

Quick Summary:

Apple Inc (NASDAQ:AAPL) has reduced iPhone 16 prices by up to 1,600 yuan ($225) on its Alibaba Group Holding’s (NYSE:BABA) Tmall store to boost sales during Singles’ Day, the world’s largest shopping festival.

Beginning Monday evening, Apple offered a 500-yuan voucher for all iPhone 16 models, with the base iPhone 16 and iPhone 16 Pro Max starting at 5,499 yuan and 9,499 yuan, respectively, SCMP reports.

These price cuts come as Apple aims to counter the lukewarm initial response to the iPhone 16 on Chinese social media.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesTaiwan

Topics: Top Stories Government PDD Benzinga US4642876142 Media Emerging Markets Briefs JD AI Generated Stock Battles VGT IWF BZ Data Project US92204A7028 AAPL News US0378331005 Tech BABA

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 15:12:50 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 397 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23203434

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