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Apple responds to competitive pressure with rare discounts on iPhones in China

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In response to growing competitive challenges in the world’s largest smartphone market, Apple has initiated rare discounts on its iPhones in China, slashing retail prices by up to 500 yuan ($70). 

The U.S. tech giant implemented a 5% price reduction on select iPhone models, as indicated on its Chinese website on Monday. 

This time-limited promotion, labeled as a Lunar New Year event, is set to run from January 18 through January 21, leading up to the mid-February holiday.

The move comes as Apple faces intensified competition in China, with its latest iPhone 15 series experiencing lower sales compared to previous models.

Homegrown rivals like Huawei Technologies and Xiaomi have been offering competitive alternatives.

Additionally, reports suggest that certain companies and government departments in China have been limiting employees’ use of Apple devices, echoing U.S. government restrictions on Chinese apps for security reasons.

According to Jefferies analysts, Chinese iPhone sales witnessed a 30% decline in the first week of 2024 compared to the same period the previous year. 

They also noted a 3% decline in sales for all of 2023. 

Analysts anticipate a more challenging competitive landscape for Apple in China throughout the year.

The decision to reduce iPhone prices is a departure from Apple’s trend of not cutting prices for its latest models in recent years. 

This move follows the surprise announcement at the September launch of the iPhone 15 series, where Apple chose not to raise prices. 

Online shopping platforms, including Pinduoduo, have also been independently lowering prices on the iPhone 15 and iPhone 15 Pro by as much as 16% since the beginning of the year.

Nicole Peng, Senior Vice President of market research firm Canalys, commented on the situation, stating that the discounts were not unexpected as Apple faces the challenge of boosting global sales, particularly in China. 

She noted, “It is clear that Huawei is making a comeback. Some Chinese consumers may return to using Huawei as driven by patriotism.”

Canalys anticipates that Apple’s sales will remain flat worldwide this year, with a slight decline expected in China. Apple has yet to comment on the situation.

Stay tuned for further updates on Apple’s market strategy and performance in China.

Source: Reuters

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SriLankan sends special relief flight to Sumatra

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SriLankan Airlines has dispatched a special relief flight – UL 302 from Bandaranaike International Airport (BIA) to Medan International Airport on the Indonesian island of Sumatra to transport 101 passengers and crew members of SriLankan Airlines flight UL 306, which was grounded due to a technical fault.Singapore-bound SriLankan Airlines flight UL 306, which departed from BIA in Katunayake for Singapore last evening (June 05), had made an emergency landing at Medan Kuala Namu International Airport due to a technical issue.

Following an inspection by an Indonesian technical team, it was determined that the necessary repairs would require additional time. Therefore, SriLankan Airlines decided to accommodate the passengers in hotels.

Although a complication had initially arisen when Indonesian authorities initially declined to grant permission for hotel transfers, it was later resolved through the intervention of the Sri Lankan Ambassador to Indonesia.

Meanwhile, a technical team from Sri Lanka had departed for Indonesia on a flight bound for Jakarta this morning (June 06) to further inspect the grounded aircraft.

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Minister warns to impose MRP on salt

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Minister of Trade – Wasantha Samarasinghe has warned that the government will be forced to introduce a Maximum Retail Price (MRP) for salt by this week, if importers attempt to sell imported salt at higher prices.

Speaking at a media briefing, he said that a kilo of imported salt will cost Rs. 77, along with the 40% tax imposed by the government.

“Let’s say it has been priced at Rs. 80 a kilo. Then, wholesale traders are allowed to keep a profit of Rs. 10, 20, or 30. But not beyond this margin. However, if importers are trying to use this shortage to create a racket, then I would like to warn them not to engage in such activities. We will be forced to impose a Maximum Retail Price if this continues,” he added.

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CEAT assures job security following Michelin Lanka acquisition

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CEAT OHT Lanka (Pvt) Limited, a wholly owned subsidiary of CEAT Limited, India, has reassured employees that their jobs are secure following the acquisition of the CAMSO brand’s off-highway construction equipment bias tyre and tracks business from Michelin Lanka (Pvt) Ltd.

The holding company, CEAT Ltd. of Mumbai, India, announced in December 2024 that a definitive agreement had been signed for the acquisition. This includes the Midigama plant. the Casting Product Division in Kotugoda and some parts of other divisions providing central services.

To formalize the transition, a tripartite Memorandum of Understanding (MoU) was signed on May 22, 2025, between CEAT OHT Lanka, Michelin Lanka, and the Inter Company Employees Union.

The agreement guarantees 100% job security, preservation of past service, seniority, remuneration, and employee benefits.

However, employees of Michelin Lanka in Midigama, Matara, recently protested claiming that their jobs were at risk due to the sale.

CEAT, operating in over 120 countries, emphasized its commitment to employee welfare and workplace satisfaction, affirming it will honor all obligations under the agreement and actively invest in business growth.

CEAT, listed on the Mumbai Stock Exchange and part of the RPG Group, is a leading manufacturer of tyres for cars, buses, trucks, motorcycles, scooters, and off-highway vehicles.

CEAT had previously acquired Kelani Tyres, a fully state-owned enterprise in 1993, which was considered as a controversial deal facilitated by Ranil Wickremesinghe.

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