Apple (AAPL) Cuts iPhone 16 Prices Ahead of Major Sales Event

Apple (AAPL, Financial) has issued a price adjustment notification to its channel partners, marking the first time the company announced such changes on a Saturday. The unexpected move caught many wholesalers off guard. The price cut includes reductions of $160 across all capacity versions of the iPhone 16 Pro Max, equivalent to approximately 1,313 yuan. Additionally, the 128GB version of the iPhone 16 Pro now costs $176 less, equal to around 1,445 yuan, with other versions also seeing a $160 price drop.

The timing coincides with the upcoming 618 shopping festival, set to commence soon. Many channel partners believe Apple’s strategic price cuts aim to boost sales during this major promotional event.