After reducing iPhone prices in China due to poor sales, Apple has reduced iPhone prices across the shore in Hong Kong as well. Apple reduced iPhone 8, iPhone X, and iPhone XR prices by as much as 20 percent in China ahead of the Lunar Chinese New Year to attract new customers.
As per Hong Kong News Agency, Apple has reduced prices of the iPhone XS and iPhone XS Max across carriers in Hong Kong as well. The 512GB iPhone XS is now cheaper by HK$ 2050 (~RMB1750/US$ 260). The iPhone XR has also seen a price cut of around HK$ 1000. The price cut is only applicable on e-commerce websites and through carriers as Apple continues to sell the iPhone XS and iPhone XR at their original price via its online store.
The price cut should help boost the sales of the new iPhones and make them competitive against newer models from Chinese OEMs. Apple has been rethinking iPhone prices across key markets after iPhones sales slumped in China and other major markets in Q4 2018. In Japan also, it had to reduce prices of certain newer iPhone models to boost their sales.
The price cut in China had a positive effect on iPhone sales and led to an 83 percent jump in sales. It is likely that iPhone sales in Hong Kong will get a similar boost after the price cut.
Tim Cook has already confirmed that Apple is “rethinking iPhone pricing” in some markets across the globe. It is looking to price the iPhone more sensibly in markets where its price has increased to extremely high levels due to currency fluctuations.