苹果“双十一”严管经销商：禁止“碰线”背后，是业绩下滑与价格保卫战

Core Points - Apple is tightening its sales channel management during the "Double Eleven" promotional period, prohibiting authorized dealers from engaging in any business with e-commerce platforms [1][2][4] - The company has issued a compliance commitment letter to dealers, outlining strict regulations against online sales or any form of indirect sales of Apple products [4][6] - Violations of these regulations will result in severe penalties, including the cancellation of dealer authorization and potential financial liabilities for any incurred costs [3][9][11] Sales Channel Management - Authorized dealers are explicitly forbidden from selling or promoting Apple products on any online platforms, including e-commerce, social media, and live streaming [4][6] - The compliance commitment requires dealers to only sell products in designated offline locations and to cooperate with Apple's sales supervision [7][8] - The penalties for violations include immediate cancellation of dealer status and shared penalties for related dealers in the same city [9][11] Market Strategy - Apple's strategy reflects a dual approach: tightening control over offline dealers while simultaneously promoting sales through official channels during the "Double Eleven" event [12][13] - The company is offering discounts on products through its official channels, such as a 300 yuan discount on the iPhone 17 Pro series, while maintaining strict pricing control to prevent price disruption from unauthorized online sales [13][16] - This approach aims to protect the pricing structure of the Pro series while allowing controlled discounts on standard models to compete with domestic brands [16] Financial Performance - Apple's recent financial report for Q4 of fiscal year 2025 shows strong global revenue of approximately $102.5 billion, with a year-on-year growth of 8% [15] - However, revenue from the Greater China region declined by 3.6% to approximately $14.49 billion, marking it as the only major market with a revenue drop [15] - The decline in China is attributed to supply constraints and increased competition from domestic brands, prompting Apple to reinforce its pricing strategy [15][16]