Apple Leverages Tmall, China's Hottest Live Shopping Event for a Chinese Comeback - Alibaba Gr Holding (NYSE:BABA), Apple (NASDAQ:AAPL)

Apple Inc AAPL prepares for the debut of its live-shopping event on China’s Tmall marketplace this week to tap over 500 million users in the leading internet market.
Apple’s official store on Alibaba Group Holding Ltd’s BABA Tmall, which kicks off at 7 pm local time on Wednesday, will include products like iPhone 14 and iWatch, SCMP cites from a teaser.
Chinese internet platforms regularly sell products through live-streamed videos, from the short video app Douyin to e-commerce firms like JD.Com, Inc JD.
Interestingly, the iPhone maker timed its debut with China’s annual “618” shopping festival to boost sales in a market where its foothold has been plunging.
The festival, which now runs for about a month and is the second most crucial e-commerce event in the country after Singles’ Day, is held every November.
Apple’s Tmall store has slashed the price of an iPhone 14 Pro with 128-gigabyte storage to 6,499 yuan ($917), from the original 7,999 yuan, with the offer available Wednesday night, while its JD.com store is offering the same model for 6,498 yuan, valid until Thursday.
In a visit to China in late March, Apple CEO Tim Cook met Chinese Premier Li Qiang and other top officials to reaffirm its loyalty to the market.
Luxury labels like Prada, Louis Vuitton, and Givenchy have also tested the waters with live-streamed shopping events in the country.
Price Actions: AAPL shares traded higher by 0.97% at $179.02 on the last check Wednesday. BABA shares traded lower by 0.75% at $78.92.

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