Apple is offering rare discounts of up to 500 yuan on its latest iPhone models in China, as the U.S. tech giant moves to defend its market share against rising competition from domestic rivals like Huawei.

Apple Inc. has kicked off the new year with iPhone discounts in China, underlining the challenges facing the tech giant in one of the world’s most populous countries.

Foreign smartphone shipments to China, including iPhones, dropped 47.4% year-on-year in November, highlighting Apple's uphill battle in the country.

Apple is under pressure in China as a result of rising competition from domestic brands, in particular Huawei.

Customers at an Apple store in Hong Kong in November. Apple is offering rare discounts on some iPhones in China as it faces intense competition from domestic rivals. MLADEN ANTONOV/AFP via Apple is giving Chinese consumers a rare discount on iPhones as the tech giant reportedly faces intense competition from homegrown rivals.