Apple's $100 'GiveBack' As iPhone Suppliers Deliver New Warnings
Digitimes reports today that Apple has “enforced a second wave of order reduction in the wake of weaker-than-expected sales for its new iPhones”. Apple’s Chinese manufacturers were alreadyreporting profit warnings due to order cutbacks of 25% by their “largest customer”.
Apple’s response: it will give customers up to $100 more when they trade-in their existing iPhones under its ‘GiveBack’ program and upgrade to one of the new models.
This is a dramatic change of position. During the Black Friday and Cyber Monday holidays, all Apple offered customers were coupons of up to $50if they bought older generation hardware at full price. Apple shares are now down 20% this month
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November 30th, 2018 04:00 PM #10Last edited by Monseratto; November 30th, 2018 at 04:09 PM.
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