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Apple lowers iPhone prices in China

Apple cut prices on iPhones, iPads and other products on its official Chinese website.

The cuts followed a 3 percentage point decrease in the rate of VAT (sales) that kicked in on April 1, according to state-owned Xinhua news agency.
Apple ( AAPL ) lowered the price of some products, such as the iPhone XS, with even more than 3% tax reduction.

The latest 64GB iPhone XS now costs $ 8,199 [19659006] yuan ($ 1,200), making it 500 yuan ($ 74), or 5.8%, cheaper for Chinese buyers. The iPhone XR fell in price by 300 yuan, or 4.6%.

Apple ( AAPL ) refused to comment on price changes.
The company raised alarm clocks in January when Cook Cook warned investors that "more difficult" economic conditions in China weighed on iPhone sales last year.
Cook told Reuters that Apple would lower iPhone prices in some markets outside the United States to offset the strong US dollar.
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But iPhone had already fought in China, even before the country economy showed signs of slowing down and weak Chinese yuan pushing up prices.

Apple's smart phone sales in China have fallen for more than three years and slowed by 20% last quarter, according to the market research company IDC.

The California company is facing fierce competition from domestic rivals such as Huawei, Oppo, Vivo and Xiaomi, all offering cheaper, advanced smartphones tailored to the Chinese market.

"Even with this price reduction, these iPhones are still more expensive than competing from such as Huawei," said Kiranjeet Kaur, an IDC analyst.

China remains an important market for Apple, accounting for more than 15% of total sales. Revenue from the Greater China Region – which includes Hong Kong and Taiwan – fell about 27% to $ 13.2 billion last quarter compared to the same period the year before.

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