Chinese retailers offer massive discounts on iPhone 15

Chinese e-commerce platforms including PDD Holdings' Pinduoduo and Alibaba's Taobao are offering deep discounts on Apple's latest iPhone 15 series, with some selling models up to 900 yuan ($123) below the retail price.

Analysts say the iPhone 15 has not been selling as well in China as its predecessor. Counterpoint Research said last week that iPhone 15 sales in China were down 4.5% versus the iPhone 14 in the first 17 days after its market launch.

Apple, Pinduoduo and Alibaba did not immediately respond to requests for comment.

In China, Apple will occasionally allow partner vendors to offer discounts to spur demand. But Chinese e-commerce platforms have also been locked in a "value for money" battle as consumers tighten their belts amid a slowing economy, with discounting a key focus of forthcoming annual Singles Day shopping festival.

Pinduoduo is offering the 128 GB version of the iPhone 15 Plus at 6,098 yuan, 900 yuan less than Apple's retail price of 6,999 yuan, according to checks made by Reuters.

The 512 GB iPhone 15 Pro Max, which has a 11,999 yuan price tag in Apple's store, can be bought for 10,698 yuan on Alibaba's e-commerce platform Taobao.

The e-commerce platform iPhone 15 discounts were first reported by The Economic Observer weekly newspaper on Monday.