Apple is offering rare discounts on its iPhones in China, cutting retail prices by as much as CNY 500 ($70, or roughly Rs. 5,800) amid growing competitive pressure in the world’s biggest smartphone market.Apple is offering rare discounts on its iPhones in China, cutting retail prices by as much as CNY 500 ($70, or roughly Rs. 5,800) amid growing competitive pressure in the world’s biggest smartphone market.