Strong Expectations from Apple Inc.’s IPhone5 (NASDAQ:AAPL)

As per reports from Reuters , Apple Inc.(NASDAQ:AAPL) next-generation iPhone has not even come out in the market but yet opportunistic sellers in China have already started accepting pre-orders. Taobao are already accepting pre-orders, complete with mock-up pictures and technical specifications.

The new iPhone 5 is widely expected to get released sometime between August and October this year, although Apple itself has preferred to remain silent about it. According to sources, the iPhone 5 is expected to have a bigger screen than previous models, while Taiwanese media reported the phone's voice recognition software, Siri, would have more powerful functions.

Taobao is a unit of Alibaba Group, are accepting orders for the iPhone 5, and in some cases asking for a deposit of 1,000 yuan ($160) for the new phone. "Dahai99888", ane seller, who started accepting pre-orders this week, is asking buyers to pay in advance, at a cool 6,999 yuan ($1,100).

Reuters said that Taobao sellers planned to buy the iPhone 5 in Hong Kong or the United States and then bring it to mainland China. Apple products are often available in Hong Kong before they are released on the mainland. The sellers could not promise an exact delivery time.

The pre-order activity is going on despite the mystery around the iPhone 5 and highlights the extreme demand for new Apple products in China.

Apple has not confirmed the specifications, details or the price of the latest iPhone, but the Internet rumor mill has been constantly churning out photo renderings and pictures of iPhone 5 engineering samples and gambling endlessly on its technical specifications and functions.

Demand for Apple products in China is so much that many consumers buy smuggled goods in order get them before the official China release. Earlier this year, there was a large queue by scalpers overnight outside a Beijing store for the latest version of the iPhone 4, only to pelt the store with eggs after Apple decided not to sell the phone there because of security concerns.

The shares of the company declined 0.67% to $600.36 in the pre-market hour.