We already know that the Chinese city Shenzhen is known for its giant manufacturer, who put millions of Apple Inc. (NASDAQ:AAPL) iPhone in market every year. But it’s hard to believe that there is also a wholesale market (our-story electronics mall in Shenzen) for the Apple gadgets, where stacks of these are sold each day.
The market is one of the biggest grey markets that allow many products of Apple to people who generally can’t afford these shinny Apple phones, but are willing to have one with them, says a report from PC World. Selling Old Apple Phones is a lucrative business in itself. The Shenzen mall attracts buyers from around the world, who come here to shop for cheap devices and components.
Boon for Apple fans, who can’t afford one
One of the merchant in the same market named Yuan cautioned that these Apple Inc. (NASDAQ:AAPL) phones are not returnable therefore one should be careful while buying an apple product. Yuan is among hundreds of buyers who purchase old apple merchandise and refurbish them to sell them to Chinese consumer.
Most of the Apple phone come in this market have cracked screens or scratched casings. The Shenzhen market has dozen of shops that are specialized in repairing and re-polishing screens and casings of these impaired Apple iPhone and devices. Some merchants even sell iPhone packaging, including boxes, headphones and power adapters.
Generally, many Chinese are earn low wages and can’t afford new phones therefore older models of Apple Inc. (NASDAQ:AAPL) iPhone are popular among them. Yuan says he can make about $100 a day by selling phones he’s refurbished at his shop.
A specialized business
The wholesale market crowded with Apple phone and devices, stacked in piles or kept in plastic. Every model is available and they arrive from places as far as the U.S., Japan, and Korea.
Many companies are involved in the same business. Some of these companies are situated in the U.S., and specialize in buying old electronics. One giant online company named ‘Gazelle’ told that it bought used consumer product including Apple iPhone and other devices of around $180 million. The company sells about 70 percent of the devices it buys through wholesale buyers, and about half of its pre-owned Apple Inc. (NASDAQ:AAPL) iPhone are resold to emerging markets like Shenzhen.
“Apple is an aspirational brand across the globe, and consumer demand for Apple products is extremely high in all markets,” Gazelle said in an email to PC World.