© Reuters. FILE PHOTO: Men walk past Louis Vuitton Louis Vuitton boutique in Beijing
BEYKEN (Reuters) – Apple Inc. (NASDAQ 🙂 and other consumer brands have lowered their prices in China on Monday as a reduction in the country's value-added tax rate (VAT) came into force
Pricing for products listed on Apple's website in China was lowered on Monday morning, including a discount of up to 500 yuan ($ 74.44) on some of the latest iPhone models.
The suggested retail prices for brands, including LVMH, Louis Vuitton and Kering's Gucci, also dropped by about 3%, according to local media.
She follows reports from last month's BMW AG and Mercedes-Benz car brands that said prices for several car models will drop after tax changes.
Apple declined to comment on price cuts, and LVMH and Kering (PA 🙂 did not immediately respond to requests for comment.
Beijing said in March that it would cut taxes and fees by almost $ 2 trillion for all companies. Yuan in 201
Several Chinese electronics retailers have lowered their iPhone prices in January, dropping the latest models to $ 118, after weak sales by the end of 2018.
Fusion Media or anyone related to Fusion Media is not liable for loss or damage as a result of relying on information, including data, quotes, graphics, and sales / purchase signals contained on this web site. site Be fully informed about the risks and costs associated with trading financial markets, this is one of the most risky possible investment forms.