The Apple Inc. (NASDAQ:AAPL) iPhone 6 gained much popularity and attention long before its official release last week on Friday, September 19th. Since then the iPhone 6 has seen huge sales, crossing the 10 million unit mark. The new models have not been released in China yet because they are lacking the required regulatory approvals, but are in huge demand. Therefore, ardent Apple iPhone lovers who cannot wait have decided to get smuggle the iPhone 6 into China using some unique methods.
Unique way of smuggling
Smugglers trying to bring the iPhone 6 into China have resorted to various means of doing so. Sources report that smugglers have even tried hiding iPhones in Twinkies packaging. Smugglers remove the cake from its packaging and place the coveted iPhone 6 devices inside it, according to a report by Eunice Yoon at CNBC. Yoon added that other product packaging such as coffee tins and toothpaste boxes are also used for smuggling iPhones into China.
The iPhone 6 models arr hugely popular in China, and the insufficient supply has led to lucrative arbitrage opportunities for the scalpers. The fact that the smuggled iPhones can be sold at almost double the cost in China has sparked many smuggling efforts, according to third-party resellers in Hong Kong. The iPhone 6 models are available in some nations in the Asia-Pacific region, including Hong Kong, Singapore, Japan and Australia.
iPhone 6 Black market price may soon decline
The iPhone 6 and 6+ are sold at very high prices in the Chinese black market. It is said that the iPhone 6 is being sold for $1,900 while the bigger 5.5-inch unit, the Apple iPhone 6 Plus, is selling for the hefty amount of $3,250. These prices will likely only last until the final review of the government license for the iPhone 6, which might not be far away.
An attempt to smuggle electronics worth three million Hong Kong dollars into China was foiled by the Hong Kong authorities on Sunday. The electronics included 138 iPhone 6s. The new iPhones have generated huge demand, and people from various parts of the world lined up outside Apple stores to get ahold of the new iPhone. Media sources noted there were many line-cutters, who are suspected to be scalpers from Japan and China. The available stock sold out quickly, and as of Monday, no new iPhone models were available for sale at the two official Apple stores and the website in Hong Kong.