Authorities in the Chinese city of Shenzhen outlined a plan to offer cashback on smartphones produced by several local vendors in an attempt to revive consumer demand, South China Morning Post reported.
The newspaper noted purchasers buying qualifying devices made by Huawei, Oppo and Vivo would be able to claim back up to 15 per cent of the cost to a maximum of CNY2,000 ($298) under the scheme.
Alongside smartphones, the offer is valid for a host of consumer electronics made by a swathe of domestic brands.
The Development and Reform Commission of Shenzhen Municipality reportedly explained the move was an attempt to restore consumer confidence, encourage consumption and increase demand.
Shenzhen is one of a number of Chinese cities to have been placed under lockdown measures so far in 2022 as authorities continue to battle the Covid-19 (coronavirus) pandemic.
Lockdowns have been cited as one of a number of factors sapping consumer demand by industry commentators.
Analyst reports and projections on the global smartphone market have painted a grim picture in recent weeks, with issues impacting both supply and demand.Subscribe to our daily newsletter Back