iPhone 6 is not your average smartphone, but arguably the best piece of technology ever developed by Apple Inc. (NASDAQ:AAPL) seen by the growing demand four months after release. CNBC’s, Eunice Yoon, reports that the black market in China is thriving on opting to sell the revolutionary handset for $150 less, than the official stores.
The frenzy behind iPhone 6 is growing seen by the great lengths that dealers are will to go, to cash in on the revolutionary product. A number of people have been caught by authorities with dozens of iPhone 6 phones strapped to their bodies; trying to cross the border from Hong Kong in a bid to meet the growing demand in mainland China.
“Along the border with Hong Kong, iPhones are smuggled into mainland China; in suitcase boxes and bags by people paid as little as $42; at the train station iPhone mules walk through customs. Each we were told, carrying the phones in Parts a bag of chargers for one earphones on another to avoid getting caught by the authorities, the goods are handed off in a dark ally, where other smugglers reassemble and package the phones for sale,” said Mrs. Yoon.
China has already surpassed the U.S as Apple Inc. (NASDAQ:AAPL)’s biggest marketplace for iPhones; the Cupertino-based company having registered a 70% growth in earnings in the fourth quarter. The demand for iPhone 6 is set to increase even further heading into China’s Lunar New Year where many people are expected to buy the phone as a gift to their loved ones.
Big electronics shops in China can be seen filled with thousands of people ready to get hold of the phone something that has only gone to impact Apple Inc. (NASDAQ:AAPL)’s earnings. Most of the phones sold in authorized shops and black market are new, but some are refurbished models according to Yoon.
“New ones here cost $150 less than at the official store where the most popular model 64GB iPhone 6 runs for $1000. Quite a bargain for a phone that sets the average immigrant worker back two to three month pay,” said Mrs. Yoon.
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