In anticipation of the upcoming "618" shopping festival, Apple (AAPL.US) has initiated price reductions for select iPhone 17 models in the Chinese market to boost sales and enhance competitiveness. Information displayed on major e-commerce platforms indicates a price cut of 1,000 yuan for certain iPhone 17 Pro models. Platforms including JD.com (JD.US) and Alibaba's (BABA.US) Taobao are currently showcasing these promotional offers. Reports suggest that, when combined with trade-in subsidies and other promotional activities, the starting price for an iPhone 17 Pro has been reduced to as low as 6,999 yuan. Price adjustments have also been applied to the base model iPhone 17. Beyond Apple, the Chinese smartphone market is witnessing a new wave of price competition, with brands like Huawei and Xiaomi concurrently offering discounts on select models. Analysts note that the "618" shopping festival has become a crucial sales period for smartphone manufacturers, and intensifying competition in the Chinese market is compelling major brands to vie for consumers through pricing incentives. Furthermore, China has previously implemented a nationwide subsidy program for phone trade-ins. Under certain conditions, consumers can receive subsidies of up to 15% off a new phone purchase, with a maximum subsidy amount of 500 yuan. Influenced by these developments, Apple's stock rose approximately 0.81% in Friday's midday trading, reaching a new all-time high.