https://wccftech.com/iphone-xr-price-cut-in-china-turning-things-around/

According to statistics, Apple generates approximately 20 percent of its revenue from China, mostly from the sales of iPhones, and thus it is a significant market for the company. The Cupertino based giant had previously lowered its revenue guidance in China, citing the country’s poor economy as a reason. Later on, Apple slashed the prices of its current lineup by nearly 6 percent in China, including the iPhone XR which made its phones relatively more affordable. According to a new report, the price cut has helped the company and it may need to reduce prices even more in the future.

Let alone the iPhone XS and iPhone XS Max, even the iPhone XR costed more than Chinese flagship offerings from when it was first introduced. This dealt a blow to the demand and Apple consequently reduced the wholesale price of the 2018 iPhones in the region. According to Daniel Ives, analyst of Wedbush Securities, the demand for Apple’s cheapest 2018 iPhone XR in slowly increasing in China, thanks to the price cuts, which was partially carried out due to the reduction of VAT in China in an attempt to boost the economy.