By Star Chang, posted Sep 13, 2012 at 6:33 PM, 7,130 views,

iPhone 5 Sells at Mark-up Price for $1,500 in Beijing China

iPhone 5 has only officially unveiled yesterday, yet grey market’s retailer are already taking pre-orders for the newly launched Apple’s handset. Grey markets and PC shopping malls across China are preparing to sell the iPhone 5 on the 21st of September, which is the global launch date. Smugglers are already planning to bring in the new iPhone via Hong Kong on the day of release, so consumer in mainland China could get the new phone without having to wait several months for the official China launch. Retailers from the grey market are preparing to sell the iPhone 5 for 10,000 yuan (US$1500) during the first arrival, the cheapest 16 GB unlocked version will be selling for about 4,572 yuan (US$720) in Hong Kong, that’s about a 100 percent mark-up …

Apple has not set a launch date for iPhone 5 in China, and it’s normal for it to take two to three months to pass through Chinese regulator’s approval and hit shelves. Most early adopters, especially those die-hard fans, will be buying the new gadget from the grey markets. Shenzhen will be getting the device the same day as Hong Kong launch, and some early buyers in Beijing might get it the same day if their local couriers are up to the task for express delivering. Only after a steady supply for a week or so, it will fall to a more acceptable price. Apple will be still using the Reserve and Pickup system for the new iPhone 5 launch in Hong Kong. We are still not sure whether it will restrict to only local resident, and buyers from mainland China will or will not be prohibited. If the initial stock is very limited, the grey-market price will expect to remain high for a few weeks. We will keep track on the issue, stay tune.

SOURCE: TechWeb via TECHINASIA