Apple Is a High-Priced Player, Jim Cramer Says

Katherine Ross

Apple is considering cutting the prices of its latest iPhones in China ahead of major online shopping festival 6.18, according to CNBC.

Prices for Apple's iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max and iPhone SE have been discounted on the tech giant's official store on Alibaba-owned Tmall.

For instance, users on Tmall can buy an iPhone 11 64GB model for 4,779 yuan ($669.59), down around 13% from its original 5,499 yuan selling price, CNBC reported. The recently released iPhone SE, the cheapest in Apple’s range, is priced at 3,099 yuan, down from 3,299 yuan.

JD.com, an official Apple reseller, is offering even steeper discounts.

This comes after Apple said that it will start producing the 6.1 inch iPhone in July or August.

Apple plans to launch four new iPhone models in three sizes this fall, and the company will likely introduce these devices in October rather than September, Digitimes reported.

Apple is expected to debut its first 5G-enabled devices to market in the fall. 

So, with both of these stories, should Apple investors be worried about the price cuts?

Jim Cramer said no. Hear him break down why in the video above. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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