The iPhone 14 Pro Max has seen its price cut several times since its release six months ago, with some stores now selling it at below cost price.
Since late March NAME, an electronic retail chain in Ho Chi Minh City, has been selling the 128 GB version for VND26.99 million (US$1,140).
Some Apple authorized resellers said this is VND100,000-300,000 lower than the import price.
“If it is selling the … 128 GB version for under VND27 million, the store is definitely losing money,” the manager of one said.
Le Xuan Tinh, manager of XTMobile, also an electronic store chain, explained that shops are sometimes forced to lower selling prices of Apple smartphones drastically to repay debts.
But this is the first time the price of an iPhone has plummeted so quickly, he admitted.
“Normally it takes at least three months for a new iPhone model to become less attractive. But with iPhone 14, within just a month and a half, demand dropped sharply. After half a year in the market, it is being sold at a loss by some stores. This situation is very rare.”
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.
The manager of an authorized reseller said his company has cut iPhone 14 prices several times but made up by selling more accessories and warranty packages and getting sales incentives from Apple.
The iPhone 14 was rolled out in Vietnam in October last year. 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 said the combined sales of the two models account for less than 5% of the total.
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