If you were paying attention during yesterday’s iPhone launch you might have noticed that the new iPhone 11 got a new feature. A feature that Apple has been resisting for some years now, but finally gave in to in the face of weakening sales.
No, it wasn’t the improved camera, faster processor, or longer battery life.
It was a price cut. A small price cut, but a price cut nonetheless.
This price cut was a big or a surprise, especially given how Apple has been slowly raising the price of the iPhone over the past few years. But yesterday saw Apple cut the piece of its entry-level iPhone from $750 to $700. A small price cut in real terms, but a sign that Apple is feeling the pressure, especially at the lower end.
The starting price of the higher-specced models remains the same, at $1,000 and $1,100.
A $50 price cut for the entry-level iPhone suggests that Apple wants to get more people at the bottom end to buy iPhones. The $750 iPhone XR became Apple’s best-selling iPhone, while sales of the higher-priced version lagged, especially in markets such as China, which are key markets for Apple to make headway into.
Apple will also continue to sell older models for at a discounted price. The iPhone 8 sees its starting price slashed to $450 for the 64GB model (this was previously the price for a 32GB iPhone 7), while the iPhone XR is down to $600.
However, the much-rumored “cut-priced” iPhone aimed at the Chinese market was a no-show.
Does a $50 price cut make you more likely to go out and buy a new iPhone?
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