Apple Inc's iPhone 14 is currently being sold at a discount in China, Yahoo Finance reported Monday. According to the report, the phone would be selling for ¥800 or $118 below Apple's average price.

The news comes less than a week after the company's latest earnings report, which showed revenue in the first quarter of its fiscal year 2023 totaled $117.2 billion, down 5% from the same quarter last year and below estimates.

Apple shares were trading down 1.45% at 11:54 am ET to sell at $152.23.