Chinese e-commerce sites slash iPhone 16 prices by $351: Report

Chinese e-commerce platforms are offering discounts of up to $351 on Apple's iPhone 16 models, Reuters reported. The move reportedly comes as these platforms increasingly compete for cost-conscious consumers in a slowing economy. However, it's unclear if discounts were being offered by Apple itself or platforms. Apple's smartphone shipments in China dropped 9% in the first quarter, report said.