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Apple slashes iPhone prices in China

STORY: Apple slashed iPhone prices in China on Monday (May 20).

The U.S. tech giant launched an aggressive discounting campaign on its official Tmall site in the country.

It offered discounts of up to $318 on select iPhone models.

It comes as Apple looks to defend its position in the high-end smartphone market.

The company currently faces more competition from local rivals like Huawei.

Last month, Huawei introduced its new series of high-end smartphones, the Pura 70.

That followed the launch of the Mate 60 last August.

Apple's discount offer runs from May 20 to May 28th, and is more substantial than the offer in February.

The steepest discount applies to the 1TB iPhone 15 Pro Max model.

Other makes have also seen big price cuts.