(Yicai) Sept. 15 -- Apple’s newly launched iPhone 18 Pro is already selling below its official launch price on Chinese e-commerce platforms, as increasingly rapid subsidies narrow the window for scalpers to profit from early demand.

The handset, which opened for pre-orders on Sept. 12, is available for as little as CNY9,099 (USD1,356) on Pinduoduo, or CNY900 (USD134) below its official starting price, marking the third consecutive year since 2024 that Apple’s new iPhones have quickly fallen below their launch prices on the group-buying platform.

Pinduoduo's “CNY10 Billion (USD1.5 billion) Subsidy” channel lists the 256GB iPhone 18 Pro at a group-buying price of CNY9,699, with an additional CNY600 coupon bringing the final price down to CNY9,099. Yicai found that the subsidy coupons were readily available and orders could be placed successfully, with the platform saying shipments would be completed before Sept. 27.

The rapid discounts suggest Chinese e-commerce platforms are moving increasingly quickly to subsidize Apple’s latest products, potentially squeezing the window for scalpers to profit from high demand around new iPhone launches.

Third-party sellers on Alibaba Group Holding's e-commerce platforms Tmall and Taobao are also offering incentives. China Mobile’s official Tmall handset flagship store advertises a CNY300 discount on the iPhone 18 Pro, with China Mobile users receiving CNY300 in phone credit when placing an order. Some stores also show that the iPhone 18 Pro is eligible for trade-in subsidies, bringing the final price down to as little as CNY9,099.

Apple’s official Taobao flagship store, however, is not offering price cuts, its customer service told Yicai. Promotions through Apple’s official channels mainly consist of interest-free payments over 24 installments.

Discounts Arrive Earlier

Chinese e-commerce platforms have been moving increasingly quickly to subsidize Apple’s new handsets, with new iPhones selling below their official launch prices on Pinduoduo for three consecutive years since 2024.

On Sept. 15, 2025, after Apple’s product launch event, Pinduoduo introduced broad subsidies for the iPhone 17 series through its CNY10 Billion Subsidy channel. The post-coupon price of the 256GB iPhone 17 fell to CNY5,099, while that of the 256GB iPhone 17 Pro dropped to CNY8,099, about CNY900 below their respective official prices.

On Sept. 19, 2024, before the iPhone 16 officially went on sale, Pinduoduo offered subsidies that brought its price down to CNY5,399, CNY600 below Apple’s official price.

Yicai previously reported that after Apple unveiled its first foldable-screen handset, the iPhone Duo, scalpers began offering purchasing services for the iPhone Duo and iPhone 18 series, charging premiums of as much as CNY5,000.

But the pricing pattern over the past three years shows that e-commerce platforms are bringing forward subsidies on Apple’s new products, leaving scalpers with an increasingly narrow window for arbitrage.

Editor: Emmi Laine