Apple reduced iPhone 17 prices in China ahead of the major 618 shopping festival. Pro series models now feature discounts of approximately 1,000 yuan or $138. These adjustments also allow certain models to qualify for national trade-in subsidies.
Apple shares climbed roughly 1% on May 15 following the announcement. The strategy targets increased market share within the competitive Chinese region.
Investor sentiment remains bolstered by a recent record-breaking earnings report. Apple also recently implemented a dividend increase. The company authorized a new $100 billion share buyback program.