Retailers in China cut iPhone prices after Apple sales warning

Several Chinese electronics retailers, including Alibaba-backed Suning and JD.com, have slashed iPhone prices this week, after Apple recently blamed poor sales of the smartphone in the country for a rare revenue warning.

The discounting, as steep as $118 for the recently launched 64GB iPhone XR, is the latest sign that Apple's weak holiday sales in China.

The price cuts on iPhones by Chinese retailers began in the middle of this week, with at least six offering promotions this weekend, according to checks done by Reuters.