Pedestrians pass in front of a Louis Vuitton shop in Chengdu, Sichuan Province, in this file photo. Apple Inc. and other consumer brands lowered prices for their products in China on Monday as a cut in the country’s value-added tax rate came into effect. Price tags for products listed on the Apple’s China website were lowered Monday, including a discount of up to 500 yuan (US$74.44) for some of its latest iPhone models. Suggested retail prices for brands including LVMH’s Louis Vuitton and Kering’s Gucci were also cut by around 3 percent, according to local media reports.SD-Agencies |