Both Huawei Mate XT and iPhone 16 Collapse in Sales a Day After Release, Scalpers Suffer Huge Losses

On September 20, Apple released its iPhone 16 series, and Huawei launched its foldable Mate XT at the same time. Surprisingly, on launch day, the iPhone 16 did not have its usual price markup of hundreds or even thousands of yuan. Instead, it saw a rare price drop, causing scalpers to suffer heavy losses. Many began returning their stock the very next day. Scalpers are informal or illegal middlemen, who aim to make large profits by reselling high-demand items.