Apple and other luxury brands drop China prices as a cut in the country’s value-added tax rate come into effect by catecadell
FILE PHOTO: New iPhone X phones are purchased at an Apple Store in Beijing, China November 3, 2017. REUTERS/Damir Sagolj/File Photo
Price tags for products listed on the Apple’s China website were lowered on Monday morning, including a discount of up to 500 yuan for some of its latest iPhone models. It follows announcements last month from car brands BMW AG and Mercedes-Benz, which said prices for several car models would drop following the tax changes.
Beijing said in March that it would cut taxes and fees for all companies by nearly 2 trillion yuan in 2019, with the manufacturing, transportation and construction sectors set to benefit as it looks to stimulate a slowing economy.
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