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Apple’s pricey iPhones out of China’s new subsidy scheme as ceiling capped at US$818
China’s latest stimulus measure offers a 15 per cent subsidy for purchases of smartphones, tablets and smartwatches
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Iris Dengin Shenzhen
Apple’s latest iPhone models are mostly excluded from China’s new subsidy scheme for boosting domestic consumption, giving domestic smartphone makers the opportunity to lift sales on the back of the stimulus measure.
China will offer a 15 per cent subsidy for purchases of smartphones, tablets and smartwatches that cost under 6,000 yuan (US$818), in line with the government’s expanded trade-in scheme for consumer goods, according to a notice on Wednesday by the National Development and Reform Commission, the country’s top economic planner, and the Ministry of Finance.
The subsidy will be capped at 500 yuan for each purchase, while consumers can only enjoy the price reduction for one item per product category.
The Ministry of Commerce said on Wednesday that both domestic and foreign companies are eligible to take part in the subsidy programme “openly and equally”.
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