Black market prices for the latest edition of the smartphone is only about HK$3,000 more than the original price as the iPhone X made its debut in Hong Kong Friday.
The iPhone X comes in silver and space grey, with the 64GB model retailing at HK$8,588 and the 256GB model at HK$9,888.
Those who had hoped to make some money by reselling their iPhone X would have to wait and see if their hard work would pay off, Apple Daily reports.
A customer, surnamed Yung, from the Digital F100 store in Sin Tat Plaza said that since the supply in China is sufficient to cope with demand, the black market price for the iPhone X will not exceed HK$13,000.
Prices are expected to fall as people who reserved the iPhone X claim the device from official channels.
Yung said the new iPhone is also available on the Taiwan Apple website, helping suppress prices.
As the iPhone X is too expensive for Taiwanese taste, people have been bringing the iPhones to Hong Kong and selling them, putting pressure on the black maket, Yung said.
Another customer, surnamed Kei, from Mobile Empire Ltd. in Sin Tat Plaza said Chinese buyers are refusing to pay extra for the iPhone X as the prices are already too high.
He predicted that the iPhone X will need to be repaired early due to the glass material used in the design. The prices for repairing the handset’s front panel could go up to HK$3,000, while the back side of the device could cost up to HK$1,500 to replace.
Meanwhile, Telecom operators are positioning themselves to make a profit from the iPhone X. SmarTone has recently unveiled its “$0 handset price for two iPhone Xs” subscription plan which requires a HK$1,000 monthly fee for a 24-month contract.
Executive director Chan Kai-lung said the iPhone 7 had sold better but added he is satisfied with the sales performance of the iPhone X so far.
– Contact us at [email protected]