Chinese Vendors Cut iPhone 8 Prices Ahead of iPhone X Official Launch
Both the iPhone 8 and iPhone 8 Plus come with an unchanged design, with several exclusive features belonging to the iPhone X. Naturally, consumers who didn’t purchase the previous two models have been gunning for the bezel-less flagship for quite some time now and in this act, Chinese vendors have been forced to slash the price of the iPhone 8 in order to lure the customer in.
iPhone 8 Price Has Been Reduced by up to a Fifth to Provide Encouragement to the Buyer Ahead of the iPhone X Launch
Thanks to the hype the iPhone X has created worldwide, it will be considered as a double-edged sword for Apple as sales of both the iPhone 8 and iPhone 8 Plus are down. To counter this slump in sales performance and to lure the customers in, Chinese vendors have slashed the price of Apple’s iPhone 8 by up to a fifth in a last-ditch effort to reel in customers.
According to a report from Reuters, customers are now able to snag up an iPhone 8 Plus and the more basic iPhone 8 models at discounts of between nearly 14 percent and 20 percent in mainland China. China is a region which is widely known to charge nearly four times the price as opposed to the asking price in Hong Kong.
Though this might improve the influx of units being moved to the end user, some analysts are not convinced that this will be sustainable in the long run.
According to Canalys analyst Mo Jia, the following has been detailed related to Apple’s growth using this approach of price reduction.
“Apple’s growth this quarter is only temporary. The high sell-in caters to the pent-up demand of iPhone upgraders in the absence of the iPhone X. Price cuts on earlier models after announcing the iPhone 8 have also helped. However, Apple is unlikely to sustain this growth in Q4.”
It is possible that Apple stops making refreshes of the same iPhone design in 2018 and focus on another unique and bezel-less smartphone but we will see what happens in the future.
News Source: Reuters
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