A Glum Sign for Apple in China, as Smuggled iPhones Go Begging
HONG KONG — When Apple’s latest iPhones went on sale this month in Hong Kong, Singapore and New York, among the hip urbanites and tech-obsessed was another group clamoring for the devices: Chinese scalpers looking to make a premium by flipping the phones to smugglers. But the gray market for the new iPhones has already dried up, even though they will not officially go on sale in China for a few weeks, at the earliest. Wholesalers who helped orchestrate the smuggling of tens of thousands of the phones into the country are now slashing prices to move inventory. At an electronics market in central Beijing, one retailer was recently selling the low-end iPhone 6 and 6 Plus for 6,500 renminbi to 8,800 renminbi ($1,060 to $1,436), down from 12,000 renminbi to 15,000 renminbi ($1,960 to $2,450) just after the release.
Related Posts
East Africa: Philips to Launch Sms Platform to Curb Counterfeit Products
Philips is setting up an SMS platform in a week's time that will help consumers...
It’s Really Easy to Smuggle Drugs IntoRikers Island Prison, Investigation Finds
It's been a bad public relations year for the violence- and corruption-plagued....
More than 1.4 million illegal cigarettes seized in tobaccoraids
More than 1.4 million counterfeit and illicit cigarettes have been seized by...
NAFDAC nabs fake wine dealers in Abuja, confiscates N100m worth wine
The National Agency for Food and Drug Administration Control (NAFDAC) closed down...