China vendors cut iPhone 8 prices before iPhone X launch

Chinese vendors have slashed the price of Apple’s iPhone 8 by up to a fifth in a bid to lure customers amid sluggish demand ahead of the launch of the technology giant’s much-anticipated iPhone X on Friday.

Buyers can now snap up Apple’s new iPhone 8 Plus and the more basic iPhone 8 models at discounts of between nearly 14 percent and 20 percent in mainland China, where iPhones have been known to change hands for as much as four times the price in Hong Kong.

The move comes as data from research firm Canalys shows Apple’s China smartphone shipments grew 40 percent in the third quarter from a year ago to 11 million units, marking the US firm’s best performance in China in eight quarters. “Apple’s growth this quarter is only temporary. The high sell-in caters to the pent-up demand for iPhone upgrades in the absence of the iPhone X,” said Canalys analyst Mo Jia.

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“Price cuts on earlier models after announcing the iPhone 8 have also helped. However, Apple is unlikely to sustain this growth in Q4.” Apple in China didn’t immediately respond to request for comment.