By South China Morning Post | Created at 2025-01-08 13:28:35 | Updated at 2025-01-09 13:26:14
1 day ago
Apple’s latest iPhone models are mostly excluded from China’s new subsidy scheme for boosting domestic consumption, giving domestic smartphone makers the opportunity to lift sales on the back of the stimulus measure.
China will offer a 15 per cent subsidy for purchases of smartphones, tablets and smartwatches that cost under 6,000 yuan (US$818), in line with the government’s expanded trade-in scheme for consumer goods, according to a notice on Wednesday by the National Development and Reform Commission, the country’s top economic planner, and the Ministry of Finance.
The subsidy will be capped at 500 yuan for each purchase, while consumers can only enjoy the price reduction for one item per product category.
The Ministry of Commerce said on Wednesday that both domestic and foreign companies are eligible to take part in the subsidy programme “openly and equally”.
The scheme, however, made most top iPhone models ineligible, especially those from the iPhone 16 series released in September, because these premium handsets are priced above the 6,000-yuan threshold.
The prices of Apple’s iPhone 16 Pro and iPhone 16 Pro Max models start from 7,999 yuan and 9,999 yuan, respectively.
