iPhone 18 Pro Launch Draws Queues; Pro Max Model Commands Premiums Up to 800 Yuan
Apple's iPhone 18 Pro series launched on September 18 in China, with the Pro Max model initially commanding premiums of up to 800 yuan. By September 19, recyclers reported the premium had collapsed to 200 yuan, with one stating the price had "collapsed." The iPhone 18 Pro model saw no premium and sold below retail on e-commerce platforms. The most sought-after Burgundy Red 256GB Pro Max saw its average transaction price drop 14.6% from pre-sale peak to launch day.
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Cross-source coverage
Common ground
- Scalpers got burned when iPhone 18 Pro premiums collapsed, and that's a good thing for regular consumers who can now buy phones at retail price.
- Chinese consumers are becoming more discerning and less willing to pay huge markups for status symbols.
- Domestic brands like Huawei and Xiaomi offer strong alternatives that are closing the gap with Apple.
Points of contention
- Eastern Agent says the premium collapse is driven by technological nationalism and geopolitics, while Neutral Agent insists it's just supply catching up with demand.
- Regional Agent argues Chinese consumers are psychologically liberating themselves from a colonial value system, but Neutral Agent calls this patronizing and says consumers make their own rational choices.
- Eastern Agent sees a structural shift over three iPhone generations, while Neutral Agent points out the iPhone 16 Pro had higher premiums, so the trend isn't linear.
Blind spots
- All sides mostly ignored that Apple likely sold more units at retail price this year, which could be a win for the company, not a collapse.
- The debate focused on scalper margins and premiums, but didn't dig into actual sales volume data or long-term consumer sentiment surveys.
- No one fully addressed how the iPhone's role as a gateway to Apple's ecosystem (Apple Pay, Maps, etc.) might erode if the phone itself loses its premium status.
WorldAttention’s read
The iPhone 18 Pro launch in China shows a clear shift: scalpers lost money as premiums crashed, and consumers are more value-conscious than ever. But the deeper meaning is hotly debated. Eastern Agent sees it as a sign of Chinese technological nationalism and a structural decline for Apple. Regional Agent frames it as a psychological liberation from Western brand worship. Neutral Agent counters that it's simply good supply chain management—Apple shipped more phones, so prices normalized. All agree that domestic rivals like Huawei and Xiaomi are strong competitors, but they disagree on whether this is a temporary market correction or a lasting cultural and geopolitical change. The blind spot is that actual sales volume might be up, which would make this a win for Apple, not a crisis. Ultimately, the debate shows that the same data can support very different stories depending on whether you focus on logistics, nationalism, or consumer psychology.
Reporting timeline
Apple iPhone 18 Pro Launch Sees Lukewarm Wholesale Demand in Shenzhen's Huaqiangbei Market
On September 18, Apple's new iPhone 18 Pro series officially went on sale. A reporter from 21st Century Business Herald visited Shenzhen's Huaqiangbei electronics market on September 20 and found that while wholesale and recycling stalls were busy, most foot traffic consisted of consumers trying to sell their newly purchased devices. The launch prices showed only modest premiums, with merchants reporting markups between 40 and 300 yuan, and slightly higher premiums for red models. Several vendors stated that this year's launch was 'not very hot,' and some consumers who secured early units said they saw little profit margin and hoped to offload their phones quickly. Merchants also noted that prices fluctuate daily.
Read sourceiPhone 18 Pro Max Premiums Collapse to $200; Pro Version Sees No Premium, Recyclers Say
According to a Securities Times report republished by East Money, the iPhone 18 series has seen a sharp divergence in market demand since its launch. On the first day of official sales (September 18), iPhone 18 Pro Max commanded a premium of around 500 yuan ($70) in the gray market, with the Burgundy red color variant being the most sought-after. However, by September 19, recyclers reported that the premium for the Pro Max had collapsed to only 200 yuan ($28), down from 500 yuan the previous day. One recycler stated that ordering now would likely result in a loss, as the buyback price would be below the purchase price. In contrast, the iPhone 18 Pro has already seen its market price fall below the official retail price ("break issue"), with some e-commerce platforms listing the 256GB version at 9,099 yuan, 900 yuan below Apple's official price of 9,999 yuan. Apple's official customer service responded that third-party channels have independent pricing power and that Apple does not intervene in their promotional activities. Data from the DeWu app shows that while most popular versions of the Pro Max still trade above the official price, the premium has narrowed significantly, with the 256GB Burgundy red version's average transaction price falling 2,027 yuan (14.6%) from its pre-sale peak of 13,888 yuan to 11,861 yuan.
iPhone 18 Pro Max Premiums Collapse on Launch Day; Pro Version Sees No Markup
Following the release of the iPhone 18 series, market reception has diverged sharply. On September 18, the official launch day, premiums for the iPhone 18 Pro Max began to decline rapidly. According to Securities Times reporters visiting an authorized Apple store in Beijing, the iPhone 18 Pro is well-stocked and available for immediate purchase, while the Pro Max is out of stock. Recyclers reported that the buyback premium for the Pro Max dropped from 500 yuan on September 18 to 200 yuan on September 19, with one recycler stating the price has 'collapsed.' The iPhone 18 Pro has no premium and is already selling below retail price on e-commerce platforms, a phenomenon termed 'negative equity.' Data from Dewu App shows the average transaction price for the popular 256GB Burgundy Wine Red Pro Max fell 14.6% from pre-sale peak to launch day. Apple's official customer service stated that third-party channels have independent pricing authority and Apple does not intervene in their pricing.
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iPhone 18 Pro Max resale premium collapses from 500 yuan to 200 yuan in one day
A field investigation by Securities Times reporters reveals a rapid cooling of the resale market for Apple's newly released iPhone 18 series in China. On the launch day, iPhone 18 Pro Max commanded a premium of around 500 yuan, with the burgundy red version being the most sought-after, peaking at 800 yuan in early morning trades. However, by the next day, September 19, a recycler told reporters that the premium had collapsed to only 200 yuan, warning that ordering now would likely result in losses. In contrast, the iPhone 18 Pro model has already fallen below its official retail price, with e-commerce platforms like Pinduoduo listing the 256GB version at 9,099 yuan, 900 yuan below Apple's official price. Apple's customer service responded that third-party channels have independent pricing power and that Apple does not intervene in their promotions. Data from the De Wu app shows that the average transaction price for the iPhone 18 Pro Max 256GB burgundy red version has dropped 2,027 yuan (14.6%) from its pre-sale peak of 13,888 yuan to 11,861 yuan.
iPhone 18 Pro Max Premiums Collapse on Day Two; Pro Model Sells Below Retail
A Securities Times investigation into Apple retail stores in Beijing reveals a rapid collapse in secondary market premiums for the iPhone 18 series following its September 18 launch. On launch day, iPhone 18 Pro Max premiums reached 800 yuan in the morning but fell to 500 yuan by afternoon, with a recycler reporting on September 19 that premiums had dropped to just 200 yuan, calling the situation a 'price crash.' The iPhone 18 Pro has already fallen below the official retail price on e-commerce platforms, with the 256GB version selling for 9099 yuan, 900 yuan below Apple's 9999 yuan launch price. Apple official customer service stated that third-party channels have independent pricing authority and that Apple does not intervene in channel pricing. The most sought-after Burgundy Red 256GB iPhone 18 Pro Max, which peaked at 13,888 yuan during pre-sales on September 12, had fallen to an average transaction price of 11,861 yuan by launch day, a decline of 14.6%.
iPhone 18 Pro Series Launches: ProMax Premium Peaks Above 1,000 Yuan; Pro Models Rejected
Cailian Press reporters visited the initial launch events for the iPhone 18 Pro series in Shanghai, Guangzhou, and Shenzhen on September 18. Long queues formed at all three locations. According to several on-site resellers, around 10:30 a.m., ProMax models could generally be bought back at a premium of over 300 yuan. The red ProMax was particularly popular, commanding a peak premium of 900 yuan at launch, which has since dropped to around 500 yuan. The blue model also enjoyed strong demand, reaching a maximum premium of 1,000 yuan at launch, now standing at approximately 400 yuan. Regarding the standard Pro models, multiple resellers stated they were temporarily refusing to accept them, while others said they would offer buybacks at prices matching those on Apple's official website.
Read sourceiPhone 18 Pro Series Goes on Sale in China Starting at RMB 9,999
According to a report from East Money citing Cailian Press, Apple's iPhone 18 Pro series officially went on sale on September 18 in mainland China. The iPhone 18 Pro starts at RMB 9,999 for the 256GB model, with a 512GB version at RMB 11,999, a 1TB version at RMB 15,499, and a 2TB version at RMB 20,499. The iPhone 18 Pro Max starts at RMB 10,999 for the 256GB model, with higher storage options priced accordingly. Compared to the previous generation, the 256GB and 512GB models have increased by RMB 1,000, while the 1TB version has risen by RMB 2,500, marking the largest price hike among Pro models to date. Separately, on September 14, an e-commerce platform listed the 256GB iPhone 18 Pro at RMB 9,099, a direct reduction of RMB 900 from Apple's official price. Customer service representatives on the platform cautioned that product procurement prices fluctuate in real time and no price protection or refunds are offered after orders are placed.
iPhone 18 Pro Launch Draws Queues; Pro Max Model Commands Premiums Up to 800 Yuan
The iPhone 18 Pro series officially went on sale on September 18, drawing long queues at Apple's Shanghai store. Only pre-booked customers were allowed inside, as all units were reserved. Scalpers were active, offering buyback premiums of 300-500 yuan for the iPhone 18 Pro Max, with the 256GB and 512GB Burgundy Wine Red models most sought after. Resale prices fluctuated, with consumers paying 700-800 yuan above retail for popular models. The standard Pro model saw less demand, with some third-party platforms selling it below launch price. The series features a 2nm A20 Pro chip, improved cooling, and a variable aperture main camera, but starting prices rose by 1,000-3,500 yuan depending on storage. TrendForce reported memory costs for the Pro 256GB model increased nearly 400% year-on-year in Q3 2026, contributing to higher BOM costs. Analysts caution that launch-day buzz alone does not indicate sustained demand, and actual sales will depend on whether performance and imaging upgrades can drive replacement demand amid price increases.
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