(Yicai Global) Sept. 25 -- Interest for Apple Inc.'s [NASDAQ:AAPL] newly released iPhone 8 handset has been lackluster so far among Chinese consumers, with some sellers on Alibaba Group Holding Ltd.'s [NYSE:BABA] e-commerce platform Taobao selling the product with a CNY510 (USD78.5) discount, Beijing Business Today reported on Sept. 25.

Taobao prices are currently lower than those on Apple's official website, marking a reversal in the normal market trend when new iPhone products are released. In the past, the new handsets would be in short supply when they go on sale, and consumers would buy them at a premium from authorized third-party sellers.

The iPhone 8, with 64 gigabytes of memory, costs CNY5,378 on Taobao, CNY510 cheaper than the official price.

There are not many significant differences between the iPhone 8 and iPhone 7, industry insiders say, and Apple is facing a huge challenge in China due to the lack of innovative features and competition from other brands, both domestic and foreign.

Apple's market share in China is likely to further decline going forward, the report said.