Apple Inc. (NASDAQ:AAPL) has always been surprising its customers with superior technical specs and quality devices. The new iPhone 6 and iPhone 6 Plus devices are no exception. These too have attracted large crowds comprising numerous fans, who do not mind waiting for hours outside the stores for getting their hands on their favorite device. The lines on Friday were much longer than they used to be at times of release of previous iPhone devices, and Grey market is said to be a major reason for the larger crowd at stores.
Grey market in full-swing
The new iPhone 6 is offered in two sizes 4.7-inch and 5.5-inch – both of which are larger than all the previous Apple Inc. (NASDAQ:AAPL) iPhone models including the last iPhone 5S model, which had a four-inch display.
On Friday, the new iPhones were offered for sale in 10 countries, and next week the company plans to add 20 new markets. The phones popularity and high demand led some people to buy those in bulk to sell off at higher prices in other markets. There were many Chechens, who had paid others to get Apple Inc. (NASDAQ:AAPL) iPhones for them, were waiting outside Apple store in Paris to collect those.
One of those people informed that he was planning that by the end of the day he will get 30 iPhones. He further informed that he was planning to sell those phones at double the price in Moscow, says a report from The Australian.
Chinese fans flocking grey markets
The new Apple Inc. (NASDAQ:AAPL) iPhones in the market are not available in China immediately after the release. This has led the grey market based in Hong Kong to surge. The new iPhones introduced by Apple last year were introduced in China at the same time when they were released globally, but this time they will be available at some future date as the approval from the Chinese government for their sale is still pending.
“Asian customers love using large-screen phones to watch video and play games,” said Lo Lau, an owner of a smartphone store in Mongkok. The retailers here said that more than $1000 premium is what they are charging for the gold iPhone 6 Plus that has the maximum storage.
At Apple store in the Causeway Bay neighborhood, a Hong Kong shop manager got hands at two gold iPhone 6 Pluses, and he planned to sell each phone for 20,000 Hong Kong dollars (US$2,600).