Chinese retailer cuts prices of iPhone XS

Chinese online-to-offline retailer Suning reduced prices of iPhone XS on Tuesday, a move which comes after Apple Inc reported significant decline in China sales earlier this year.

Suning said on its official Sina Weibo account that the online store and its Tmall flagship store will lower iPhone XS prices, with a special offer up to 1,000 yuan ($149).

With special coupons consumers can buy an iPhone XS 256G for around 8,788 yuan, while it will cost 10,099 yuan to purchase from Apple’s website.

In the final quarter of 2018, Apple sales in China fell 27 percent, with CEO Tim Cook admitting that the higher price was a factor in the decline.

Apple said it brought in $13.2 billion in China in the quarter, compared to nearly $18 billion during the same period in 2017.

Apple reported shrinking sales revenue in China across all of its leading products, including iPhones, Macs and iPads.