iPhone 4S big hit in Hong Kong's grey market

Oct 16, 2011
Apple's iPhone 4S was on sale on Hong Kong's grey market at the weekend, attracting hundreds of fans paying up to six times official prices to get their hands on the latest model.

Apple's iPhone 4S was on sale on Hong Kong's grey market at the weekend, attracting hundreds of fans paying up to six times official prices to get their hands on the latest model.

The smartphone, released in seven countries on Friday, was not yet officially for sale in the southern Chinese city but dealers had imported them, mainly from Australia and Japan, for resale to local customers.

The phones are retailing for between HK$10,000 and HK$12,000 ($1,300-$1,500) on the . Depending on their they are priced between $199 and $399 in the United States with a two-year contract.

"I have sold about 100 4S since yesterday," dealer Ma Hui of Chu Lok Telecom in the bustling shopping district of Mongkok said Sunday.

"Several customers bought 10 of them to resell to others," he told AFP, as he brought the new phones into his shop before opening for business.

But Ma said the demand for the 4S was less than the frenzy that accompanied the launch of the .

The latest Apple product will be released for sale in another 22 countries on October 28 but dealers in Hong Kong, which has many enthusiastic Apple followers, only expect it to be launched there towards the end of the year.

The Chinese-language Apple Daily News reported Sunday that one mainland Chinese customer had spent HK$861,000 for 82 new phones.

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Husky
not rated yet Oct 16, 2011
allthough many techsites were somewhat dissapointed by the incremental upgrade of the 4 rather than pulling a white Irabbit 5 out of the hat, you can not argue with sales results, apple is slowly milking the cow and they seem to be doing it right, the Itologists keep buying it.
TheSpiceIsLife
not rated yet Oct 16, 2011
This article is misleading, it compares the two year contract price to the grey market price.

Obviously if you bought an iPhone 4S to sell second hand to make a profit you wouldn't get it on a contract.

64GB iPhone 4S sells for AU$999
Ricochet
not rated yet Oct 17, 2011
It still proves that a company that only competes with itself has no comparison of what fair prices are for the general market. Anything iCrap is always overpriced, and isn't of any higher quality than anything else on the market. I firmly do not support Apple or any of their products, for the fact that they are an eliteist organization that is the very antithesis of free enterprise.
I prefer choice in my technology, and I prefer to contribute to a competition market. I choose my cellphone based on its hardware, not on its manufacturer, and it's a comfort to me to actually have choices.