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.
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.