Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Apple Inc. (AAPL) Apparently Already Has A ‘Wearable’ Device In China

Apparently, Apple Inc. (NASDAQ:AAPL) already has a “wearable” device in China, loosely speaking that is.

According to CNN, a Chinese man was arrested by China’s customs agency after trying to smuggle 94 Apple Inc. (NASDAQ:AAPL) iPhone into the mainland by “wearing” them around his body.

Apple is set to release its Apple Watch this year but this man takes the “wearables” game to a whole new level.

In photos showed by CNN, the Apple Inc. (NASDAQ:AAPL) smartphones can be seen taped all around the Hong Kong man’s torso, thighs, crotch area and legs.

Apple, is AAPL a good stock to buy, black market, China, smuggling, iPhone,

The news organization said that initially, authorities found nothing suspicious with the man’s two plastic shopping bags as he was entering into Shenzhen through the Futian crossing. However, officials were still apprehensive about the way the man was walking like he was carrying something heavy even though he was not.

When officials made the man walk through a metal detector, that’s when they discovered the iPhones taped to the man.

According to CNN, the smartphones consisting of iPhone 6 and 5S models were valued at about $49,000. It was also discovered that the unnamed man had numerous violations in the past.

Apple Inc. (NASDAQ:AAPL)’s iPhone is very prized in mainland China which has spurred the growth of a black market dealing in the product.

In Hong Kong, a mid-tier iPhone 6 can be bought for $820, CNN notes, but because of taxes, the same unit would sell for about $1,000 in mainland China. Because of this, a lot of smugglers are trying to sneak iPhones into the mainland illegally, including 18 mules arrested just from December last year, Chinese authorities said.

Dmitry Balyasny’s Balyasny Asset Management reported owning about 1.31 million Apple Inc. (NASDAQ:AAPL) shares by September.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...