Apple Inc. (NASDAQ:AAPL) at its annual event on Wednesday in San Francisco announced new iPhone models that will go on sale in more than a dozen countries including the US on September 25. Unfortunately, the new iPhones won’t be launched in India on that day. However, for the die-hard Apple fans willing to pay a premium, these phones will be available in the Indian grey markets within two days of their launch.
Grey market to get iPhone within few days of launch
Quoting grey markets vendors in major Indian cities such as Mumbai, Delhi and Kolkata a report from The Economic Times says the Apple iPhone 6S will be available for Rs. 1 lakh (approx. $1500) or higher. The report says that some of the vendors in Mumbai’s Heera Panna and Crawford markets, Delhi’s Gaffar market, and Kolkata’s Air-Conditioned and Fancy markets have started taking pre-orders for the new Apple phone, which will be available with them within two days of launch in the US market.
Apple Inc. (NASDAQ:AAPL) starts pre-orders on September 16, and the agents of the grey market vendors will place orders at Apple Stores in the US then, and within few days of the September 25 launch, the phones will be shipped to India. Apart from the US, the grey market sellers will also receive supplies from countries near India such as Singapore, Hong Kong and other similar markets, where the iPhones will be rolled-out in the first phase.
Premium pricing for Apple iPhone
One of the mobile store owners at the Heera Panna market of Mumbai told ET, “The price will be around Rs. 1 lakh initially, but it will come down after the company announces the official launch date. We have started getting enquiries.” The brand new Rose Gold model has gained maximum popularity, and hopefully will sell for Rs. 10-15,000 more than the other variants.
Most likely, the premium price window will get narrower as the launch date approaches. In India, the new iPhones are expected to be launched around the second-week of October, and the prices will start from Rs. 65,000 (approx. $980). The average price for the iPhone 6S will be in the range of Rs. 70,000-80,000 for most of the grey market sellers while for the iPhone 6S Plus will be in the range of Rs. 80,000-90,000.
Apple Inc. (NASDAQ:AAPL) ignored India initially, but in the past few years the country has come at the focus of the company. Last quarter, Apple saw a 93% growth in iPhone sales in India.