Apple slashed iPhone prices in China. Sales are bouncing back

A rebound in iPhone sales in China is gaining momentum as Apple reduced prices in its largest overseas market. Shipments of foreign-branded cell phones, mostly iPhones, surged 52% in April. This is a significant increase from the 12% growth logged in March. The rebound is seen as impressive and comes after Apple faced tough competition from local brands in the first quarter. Chinese consumers have been seeking discounts due to an economic slump. Apple’s price cuts have intensified recently, putting pressure on competitors. These discounts may continue into the third quarter and impact smartphone makers’ margins.