Apple raises trade-in prices for iPhones in China to spur demand in key market
1. Apple increased trade-in values for iPhones to boost sales in China. 2. iPhone 15 Pro Max trade-in value raised to $791 amid declining market share. 3. China shipments fell 8% year-on-year, market share decreased from 15% to 13%. 4. Xiaomi and Huawei are increasing competition with new device launches. 5. Apple faces supply chain challenges and ongoing tariff discussions with the U.S.