iPhone discounts spread in China for Lunar New Year as sales dip

GUANGZHOU -- iPhone prices are being slashed in China ahead of the Lunar New Year holiday, with major online retailers and Apple offering competing discounts as the device faces flagging sales amid competition from Huawei and other domestic brands.

Alibaba's Tmall is offering discounts of up to 1,000 yuan (about $140) on some iPhone models, with the promotion starting Wednesday and running until Jan. 31. JD.com, another major online retailer, is also offering discounts during the same period, with the most recent iPhone 15 starting at 4,949 yuan, a 1,050 yuan discount.