China Holds Up On iPhone 6: Revving Up the Black Market
Staff Reporter | | Sep 20, 2014 12:17 PM EDT |
(Photo : Reuters) Apple CEO Tim Cook speaks at the launch of the iPhone 6 and 6 Plus
Apple Inc. recently launched iPhone 6 and iPhone 6 Plus on Friday across Asia and some parts of Europe. Apple's iPhone aficionados lined up to buy the much-awaited latest technology as it finally hits the market.
The countries where the two iPhone products were launched include Japan, Hong Kong, Singapore, Germany, France, UK, the U.S. and more except China. Apple products are highly popular in China and has the world's largest market especially smartphones.
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However, the latest iPhones remain unavailable in China. China remains off the list which. The country's largest mobile carrier is China Mobile which bears over 760M carriers.
One Chinese supplier was able to purchase a mass supply of 16GB-iPhone 6 for up to US$1,303 for a 2-day delivery. The price is way more expensive than those sold in Hong Kong based on the Apple website.
According to Bloomberg, China was considered one of the top buyers of iPhone S5 by the end of 2013, which in some way contributed to the rise of iPhone black market in the country.
Bloomberg also mentioned that other vendors would sell a 128GB-iPhone for US$2,440, an exorbitant price when compared to Hong Kong's US$927 price range.
The iPhone sales delay in China prompted Chinese consumers to purchase the new iPhone for a much higher price. The delay in sales has been revved up the black market because the common and mainstream supply chain are not the only ones getting their cut, but also average individuals.
Furthermore, the general manager of China Mobile confirms that iPhone's availability is still in question. Bloomberg says that with the delayed exchange of these iPhones, China's black market is violating two laws. They are not paying the heavy import duties yet they continue to sell without the government's approval.
Although the Apple made deals with China Telecom and China Unicom, the date when these iPhones would become available remains undetermined.
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