Price of foldable iPhone drops; consumers in China begin cancelling orders
Published 4 hours ago | By Nouman Shakeel
Just days after sales of Apple’s new foldable iPhone began in China, reports have emerged regarding price drops and order cancellations. Certain models of the phone—which initially sold out quickly—are now available through Chinese distributors at prices lower than those set by the company.
According to a report by the *Global Times*, pre-orders for the iPhone began on October 16, and the initial batch sold out rapidly; however, just three days after sales commenced, reports surfaced that some customers were cancelling their orders. During this period, a significant decline in the phone's resale price was also recorded compared to earlier this month.
In China, the official price for the 256GB model is 15,999 yuan—approximately 2,399 US dollars. It has been dubbed the most expensive iPhone Apple has ever released; yet, due to subsidies and store discounts offered on various Chinese online platforms, the same model is available for as low as 15,499 yuan.
An Apple customer service representative explained to Chinese media that third-party platforms may lower prices through their own subsidies or discounts offered by individual retailers, whereas prices on Apple’s official website remain relatively stable. The representative noted that if a dealer holds excess stock with insufficient buyer demand, they might reduce the price to boost sales. The representative also confirmed that some customers had indeed cancelled their orders.
Meanwhile, a notable drop in the price of the iPhone has also been observed in the secondary market. On the Chinese e-commerce platform Dewu, the latest transaction price for the 256GB model was reported at 16,289 yuan—just 290 yuan above the phone's official retail price.
This figure is significantly lower than the levels recorded in early October, when the same model was selling for as much as 26,462 yuan on the secondary market. At that time, buyers were paying a premium of over 10,000 yuan above the official price; however, according to the latest data, this price gap in the resale market has now narrowed considerably.
