The amount of exchange ranges from 550 yuan to 5,700 yuan (1 yuan is equivalent to 0.14 USD, exchange rate on May 23.
Apple China said on its website that existing devices can be exchanged for new devices online or at the Apple Store. If the device is not eligible for the promotion, the device will be recycled and processed safely and for free, to help protect the Earth's precious resources.
Apple has sought to reduce iPhone prices over the past year, especially during the Chinese holidays. Although the latest discount increases are not large, they signal Apple's desire to boost sales in the world's major economy, where the company faces a decline in market share and declining sales amid fiercer competition from local rivals.
In the first quarter of 2025, Apple's sales in China fell 8% year-on-year, while the company's smartphone market share in the country fell from 15% to 13%, according to data from market research firm Canalys. Apple said that sales in Hong Kong (China) and Taiwan (China) in May 2025 also decreased slightly compared to the same period in 2024.
But Apple's headache in China is not only sales but also questions about its supply chain and products.
Currently, 90% of iPhones are made in China, through partner Foxconn. With the impact of US tariffs on China, Apple is considering a plan to shift more production activities to India.
President Donald Trump has spoken to Apple CEO Tim Cook about not wanting the company to produce products in India, but wanting them to move to the United States.
While Apple has declined in the Chinese market, its biggest competitors Xiaomi and Huawei have had impressive growth over the past 17 months, from making breakthroughs in chips to launching many impressive new products.
Xiaomi, the company with the largest market share in China in the first 3 months of 2025, has increased its presence in the high-end device space to compete directly with Apple.
On May 22, Xiaomi launched the 15S Pro smartphone with its own developed chip - something that very few companies in the world can do.
Xiaomi has also committed to spending nearly $7 billion to develop more chips over the next 10 years, showing its ambition to compete with Apple and Huawei.
