Date
26 September 2017
Delayed launch of iPhone 6 in mainland China will boost grey market activity in Hong Kong for Apple’s new devices. Photo: Bloomberg
Delayed launch of iPhone 6 in mainland China will boost grey market activity in Hong Kong for Apple’s new devices. Photo: Bloomberg

iPhone 6 grey market in HK to heat up on mainland buyers

Hong Kong will see its grey market heat up for iPhone 6 due to cross-border demand as Apple has excluded mainland China from the initial launch of the new devices next week.

Sincere Podium, a major trade-in phone market in Mong Kok, has already seen a slew of vendors preparing for huge demand for the new iPhones, the Hong Kong Economic Journal reported.

Some distributors are said to plan to supply the new phone directly to vendors in the grey market to reap quick profits. The iPhone 6 will go on sale in Hong Kong on Sept. 19.

The price of a new iPhone 6 Plus that is equipped with 128GB storage is expected to be jacked up to about HK$13,000 (US$1,677) in the grey market, compared with Apple’s official selling price of HK$8,088, the report said, citing a store owner surnamed Lam.

Another shop owner, who gave his surname as Lau, said about 30 to 40 mainland customers have placed orders for new trade-in phones of 128GB storage at HK$15,000, about 85 percent more than the original price.

Lau said speculative frenzy for the iPhone 6 could last until the end of this year, assuming that the first batch of the two new iPhone models to be delivered to Hong Kong will amount to 50,000. However, the price may fall after the phones are launched in the mainland on Sept. 26.

A local telecommunications carrier, meanwhile, is said to be preparing a new service plan for the new phone with increased charges.

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