The price of contraband iPhone 6 and iPhone 6 Plus have dropped in China, from the initial launch date's price of $1,950 to $2,440 to the current $1,060 to $1,430, The New York Times reported on Monday.

While Apple's iPhone 6 and iPhone 6 Plus launched earlier this month in the United States and over 20 other countries, the latest smartphones are still unavailable in China as it has yet to be approved for sale in the country.

Like Us on Facebook

The fact that it has not yet been approved, scalpers are buying the models in other countries where they are available and bringing them in to China. Resellers and smugglers initially believed they would earn hefty sums from the smartphones considering its high demand but it doesn't seem to be working.

Many consumers may just be waiting for the legitimate launch of the iPhones in China, and its lower cost, according to CNET's Don Reisinger. It is also possible that Apple's rivals, including the Beijing-based Xiaomi, may already be satisfying the needs of consumers in China.

The iPhone 6 and iPhone 6 Plus have sold quickly, worldwide. A record 10 million of the iPhone models sold in the first three days since it was made available to the public.

As of the moment, the tech company from Cupertino has not disclosed the date of the Chinese launch, but rumors point to Oct. 10 as the launch date of the iPhones in China.

Chinese tech news website Techweb, purportedly picked up an alleged internal Apple memo to employees in retail outlets in China which suggests, "prototype" iPhone 6 models are going to be stocked in authorized stores starting Tuesday. The same memo also pointed to employee training and product readiness to be carried out simultaneously.

TagsiPhone 6 Plus, smuggle, Smuggled iPhones, smuggle, iphone 6 release date, Chinese release date of iPhone 6