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Apple launched a less expensive Apple Watch earlier this month. The fresh Apple Watch SE features a new function, Family Setup, which allows young children and older customers to use the Apple Watch without an iPhone.

Apple has lowered its revenue forecast for the first time in almost two decades, citing weakening demand and lower-than-expected iPhone revenue in China as some of the factors. The US tech heavyweight also slashed the price of some its iPhone models by up to about 800 yuan (8) for its channel partners in China.

Apple, in partnership with Tmall and JD, has cut prices of its latest iPhones in China ahead of a major annual online shopping festival called 6.18.

Argentina on Saturday reported a daily increase of 1,531 cases, the biggest single-day rise in infections since the first case was detected here on March 3. So far, a total of 30,295 people have tested positive for the virus and 815 people have died from the disease in the country.

Appliance makers in China have set their sights on providing "smart solutions" and expanding their market outside China.