Apple increases trade-in values for iPhones in China to boost demand in a crucial market.

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People stand in front of an Apple store in Beijing, China, on April 9, 2025. Tingshu Wang | Reuters

Apple announced on Friday an increase in the trade-in value for customers looking to exchange their old iPhones for the new model in China, aiming to stimulate demand in this vital market. The iPhone 15 Pro Max now has a trade-in value of up to 5,700 Chinese yuan ($791), up from 5,625 yuan previously. For context, a brand new iPhone 15 Pro Max starts at 7,999 yuan in China. The iPhone 15 Pro is now valued at up to 4,750 yuan for trade-ins, an increase from 4,725 yuan prior.

Additional trade-in value increases are also available for other models. Over the past year, Apple has sought to provide discounts, particularly during holiday seasons in China. While these recent adjustments may not be substantial, they reflect Apple’s commitment to enhancing sales in the world’s second-largest economy, where it is contending with declining market share and sales due to intensified competition from local brands.

In the first quarter of this year, Apple’s shipments in China fell by 8% year-on-year, and the company’s share of the smartphone market dropped from 15% to 13%, as reported by Canalys. Additionally, Apple disclosed this month that its sales in the Greater China region, which encompasses Hong Kong and Taiwan, experienced a slight annual decline.

The challenges for Apple in China extend beyond sales figures and into supply chain issues. Although U.S. President Donald Trump has temporarily paused most tariffs on China, discussions about potential tariffs on chips and other electronics continue. With approximately 90% of its iPhones manufactured in China through its partner Foxconn, Apple has also been exploring options to shift more production to India, despite pushback from Trump, who indicated a preference for manufacturing in the U.S.

Primary competitors like Xiaomi and Huawei are posing significant challenges, with Huawei experiencing a remarkable resurgence in its domestic market over the last 17 months, attributed to advancements in chip technology and aggressive product launches. Xiaomi, the leading brand by market share in China during the first quarter, is increasing its presence in the premium device sector to compete directly with Apple. Recently, Xiaomi introduced the Xiaomi 15S Pro smartphone, which features an in-house developed chip—an achievement that few companies globally have successfully executed. Furthermore, Xiaomi has pledged nearly $7 billion to develop additional chips over the next decade, showcasing its ambition to rival Apple and Huawei.

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