Apple cuts some iPhone prices to retain edge

Firm looks to stay ahead of competition by making flagship devices affordable

Apple Inc has slashed the price of some its iPhone models by up to about 800 yuan ($118) for its channel partners in China after the United States tech giant lowered its revenue forecast partly due to a weak performance in the country.

JD, a major e-commerce platform in China, said it has received notice from Apple that the price of the iPhone 8 and iPhone 8 Plus will be reduced to 3,999 yuan and 4,799 yuan respectively, about 600 yuan and 800 yuan less than before.