Date
18 December 2017
A Hong Kong retail shop advertises the iPhone 6 on a shop window. The black market for Apple's newest smartphones is expected to last two more months, according to a reseller.Photo: HKEJ
A Hong Kong retail shop advertises the iPhone 6 on a shop window. The black market for Apple's newest smartphones is expected to last two more months, according to a reseller.Photo: HKEJ

HK black market selling iPhone 6 at US$2,580 mark-up

A red-hot black market in Hong Kong is fueling sales of the iPhone 6 at a mark-up of as much as HK$20,000 (US$2,580) over the official retail price, the Hong Kong Economic Journal reported Friday.

An iPhone 6 Plus with 128 gigabytes of memory is changing hands for HK$37,000 in the undeground market compared with HK$8,088 at Apple shops.

A shopkeeper at G-World Mobile in Mong Kok reportedly sold two gold iPhone 6 Plus handsets for HK$30,000 each but some netizens said these were probably knockoffs.

A robust social media forum has emerged around Apple’s newest smartphones since online subscriptions opened in Hong Kong on Tuesday. Buyers began collecting their orders the next day.

Yat Fung Telecom (Group) Ltd., which claims to have received its iPhone 6 stock early, said it is offering the device with a service plan.

It expects the wave of secondary trading to last two more months, although at lower prices.

The underground market is being driven by speculators from mainland China, which is not included in the first two rounds of iPhone 6 launches, the report said.

However, handsets imported from Japan, South Korea and Singapore, are being sold in Shenzhen across the border with Hong Kong.

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