Apple raises trade-in prices for iPhones in China to spur demand in key market

Apple on Friday raised the amount of money people can get off their next iPhone in China by trading in their old device, rolling out further incentives to spur demand in a crucial market. The iPhone 15 Pro Max now has a trade-in value of up to 5,700 Chinese yuan ($791), an increase from 5,625 yuan previously. For reference, a brand new iPhone 15 Pro Max starts at 7,999 yuan in China. The iPhone 15 Pro model can now be traded in for up to 4,750 yuan, up from 4,725 prior. There are also trade-in value increases across other models too. Apple has looked to offer discounts over the last year, especially around holiday periods in China. While the latest hikes are not huge, they signal Apple's ongoing desire to galvanize sales in the world's second largest economy, where it has faced falling market share and declining sales amid tougher competition from local rivals. In the first quarter of the year, Apple's China shipments fell 8% year-on-year, while the company's share of the smartphon ... Read full article.