Slow Sales Lead to iPhone 14 Pro Max Price Drops in Vietnam
Slow Sales Lead to iPhone 14 Pro Max Price Drops in Vietnam. The price of the iPhone 14 Pro Max has been reduced multiple times since its launch six months ago, and some stores are now selling it below the cost price. Since late March, an electronic retail chain in Ho Chi Minh City has been offering the 128 GB version for VND26.99 million (US$1,140), which is VND100,000-300,000 lower than the import price according to some Apple-authorized resellers.
Financial Challenges for Retailers:
One manager stated that if the store is selling the iPhone 14 Pro Max 128 GB version for under VND27 million, then they are definitely losing money. Le Xuan Tinh, the manager of XTMobile, explained that shops are sometimes forced to lower the selling prices of Apple smartphones drastically to repay debts. However, he admitted that this is the first time the price of an iPhone has dropped so quickly.
Normally it takes at least three months for a new iPhone model to become less attractive, but with the iPhone 14, demand dropped sharply within just a month and a half. After half a year in the market, some stores are selling it at a loss. Minh Vuong, the owner of an iPhone shop on HCMC’s Le Hong Phong Street, said many major chains are selling the iPhone 14 at import prices but would get bonuses for large sales volumes.
According to the manager of an authorized reseller, his company has reduced iPhone 14 prices several times but made up for it by selling more accessories and warranty packages and receiving sales incentives from Apple. The iPhone 14 was launched in Vietnam in October last year, and while the Pro and Pro Max versions sold out within a few months, sales of the iPhone 14 and Plus versions have been sluggish. Retailers revealed that the combined sales of the two models account for less than 5% of the total.
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