(Yicai Global) Dec. 1 -- Chinese e-commerce platform Pinduoduo has begun selling its entire inventory of iPhone 12s online for an up to 15 percent discount with a CNY10 billion (USD1.52 billion) rebate.

The iPhone 12 Pro Max will be 4.3 percent cheaper and start from CNY8,899 (USD1,356), while the iPhone 12 Pro will go for 4.7 percent off priced at CNY8,099. The iPhone 12’s sticker will be 12.7 percent lower, starting from CNY5,499, and the iPhone mini, the most affordable iPhone 12 version, will be 14.5 percent less with the company’s incentives.

Shanghai-based Pinduoduo, the emerging rival to market leaders Taobao under tech titan Alibaba Group Holding and JD.Com, launched a CNY10 billion (USD1.52 billion) subsidy program for promotions last August, which Alibaba emulated with its Juhuasuan group-buying unit.

Editor: Ben Armour, Xiao Yi