Apple has decided to discontinue its longstanding free-of-charge return policy in Hong Kong and Macau. 

The announcement about the change in policy was made on Apple's official website on the same day when iPhone 7 and iPhone 7 Plus hit all the leading stores across Hong Kong and Macau region, China Daily reported.

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As per the new policy, customers will now be charged a 25-percent "open box fee" while returning their opened Apple or Beats products, and a 15-percent "restocking fee" for closed-box returns.

Apple did not provide any reason for reframing the policy and whether it is a temporary move until the demand for the highly sought-after iPhone 7 models subsides to normal level in Hong Kong and Macau.  

Over the years both regions have witnessed growth in the Iphone's re-sale market, where the newly launched Iphone 7 Plus model can be easily resold at 100 percent premium. According to local reports, a 32G iPhone 7 Plus in gold or rose gold can be resold at a premium of more than HK$1,000, while the same-colored 128G model can be resold for HK$1,500, which is more than the official retail price.

Apple's desperation to revive its fading fortune in the lucrative Chinese market is believed to be the main reason for pulling the plug on the resell market. The company saw a 33 percent drop in the sale of Iphones in China at the end of June. Being the world's largest smart phone market, China is a critical market for Apple to keep up the pressure on its main rival Samsung.   

Tagsapple, Apple China, apple iphone 7, Iphone China, Hong Kong, Macau