BEIJING (Reuters) – Apple Inc. (NASDAQ) and other consumer brands have cut their prices in China on Monday as a cut in the country's
Price tags for products listed on Apple's China website were lowered on Monday morning, including a discount of up to 500 yuan ($ 74.44) for some of its latest iPhone models.
Suggested retail prices for brands including LVMH's Louis Vuitton and Kering's Gucci were also cut by around 3 percent, according to local media reports.
It follows the announcements last month from the BMW AG and Mercedes-Benz car brands, which said prices for several car models would drop after the tax changes
Apple declined to comment on the price cuts, while LVMH and Kering (PA) did not immediately reply to requests for comment.
Beijing said in March that it would cut taxes and fees for all companies by nearly 2 trillion yuan in 201
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