TMTPOST -- Chinese online retailers are offering steep discounts of up to 2,530 yuan ($351) on Apple’s latest iPhone 16 models, aiming to revive sales as the tech giant sees continued shipment declines in its second-largest market. The price cuts come ahead of China's major mid-year "618" shopping festival on June 18, as platforms compete fiercely for price-sensitive consumers amid a cooling economy. JD.com is currently offering the iPhone 16 Pro (128GB) for 5,469 yuan, significantly down from the official price of 7,999 yuan. The iPhone 16 (256GB) is also listed at 5,469 yuan, a 1,530-yuan reduction from its original price of 6,999 yuan, factoring in government subsidies. The aggressive promotions highlight mounting pressure on Apple as it battles local rivals and a shifting consumer landscape in China.