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Apple iPhone 14 being sold at discount in China: Report

Yahoo Finance Live anchors discuss reports that the iPhone 14 is being sold at a discounted price in China.

Video transcript

[AUDIO LOGO]

- Welcome back. You hear the music, you know what time it is. It's time for "Cut for Time--" three stories, one minute each. We start with this today. Apple-- latest iPhone-- the 14-- it's reportedly being sold for a discount in China, according to "China Securities Journal." Jd.com, offering the device at a rate 800 yuan, or $118 below Apple's normal price.

Now, retailers in Shenzhen have also reportedly begun reducing prices. I believe this is on the highest tier iPhone 14 as well. So that, particularly noteworthy because Apple does not have a history of allowing discounting of its products.

- Yeah, definitely. So is this a warning sign-- a continuing warning sign? You saw those Apple shares down at 1 and 1/2%. Unclear, right? Because even as you pointed out earlier-- even after the earnings report that showed there was some concern maybe about demand, the shares kind of shrugged it off and looked forward. So are we going to see investors continue to look past some of these--

- You can read more of that-- what Julie's mentioning-- in today's "Morning Brief" on the Yahoo Finance homepage. But look, I think it shows that maybe Apple needs that real game-changing product here. And maybe these phones were just weren't it, in terms of--

- Do you need a foldy phone? Do they need a foldy phone?

- They need a foldable phone, Brad. You heard it first.