Thursday, September 20, 2012

Apple Inc. (AAPL) iPhone 5 Offered in Hong Kong Grey Market at a Huge Premium

There are some people who cannot wait till Friday to lay their hands on the new iPhone from Apple Inc.(NASDAQ:AAPL). Also the thrill of owning the latest gadget from Apple, before the rest of the world, is something not to be missed.

So there are reports of enterprising grey market operators in Hong Kong who have managed to get a limited quantity of iPhone 5s and have commenced selling them at about $1100.

The official retail price for the iPhone 5 is $720 and that is the price that Apple will be selling it when retail stores start selling them on Friday.

A report from ePrice forums says that a seller, identified as Mr Lo, has said he has engaged `secret' couriers from the U.S. and Europe to get on to flights to Hong Kong and deliver the iPhones to him.

According to Mr Lo - who has a credible history of selling Apple products before they are officially available - customers from mainland China have already placed hundreds of orders and they are prepared to pay a hefty premium in order to get an iPhone much ahead of legitimate customers elsewhere in the world.

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Mr Lo himself feels that it is perfectly right for him to sell the phone at a good premium since the phones are in demand and supply might not be able to keep up with that.

Incidentally the phones will be available in Hong Kong on Friday. After its pre-orders for phones for delivery on Friday were sold out Apple has stopped taking online orders and has told customers that store sales will start early at 8 a.m. on Friday morning.
Apple launched the iPhone 5 on September 12 and the phone has already seen a huge demand in terms of pre-orders within the first 24 hours of its opening up.

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