According to reports from China, Huawei Technologies, the Chinese tech giant, has lowered pricing for several high-end handsets in new efforts to stimulate sales. In addition, the entity plans to begin mass-producing its most advanced AI processor in the first quarter of 2025.

The company is offering a markdown of up to 20 per cent for its premium handsets in its official online store.

Among the most notable price cuts was the Huawei Pura 70 Ultra, which saw a substantial 18% discount. The 1-terabyte version of the device, launched in April, is now priced at 8,999 yuan (US$1,233), down from its original price of 10,999 yuan. The 512-gigabyte version of the phone received an even steeper discount, with a 20% reduction.

Huawei Technologies has reduced the prices of several high-end devices, including smartphones, by up to 3,000 yuan (about $411) over the weekend on a Chinese e-commerce platform, Reuters reported, citing a post on the company's Weibo social media account.