By Chris Chang, posted Jun 29, 2010 at 12:24 AM, 3,691 views,

iPhone 4 Now Selling For $2500 USD In Hong Kong !

Previously, we have seen the crazy prices of iPhone 4 in the gray market of HK. And now, we are shocked that the price tag has went up from $14,800 HKD (about $1900) to $19,800 HKD (about $2545), and that’s a 32GB version from UK…

According to Unwire.hk, the UK unlocked models were selling for $14,800 HKD at first, and they were sold out within two days in the gray market — Sin Tak Arcade. The handsets were sold to “abnormal” customers who love to keep updated with the latest stuff and not looking at the price when purchasing the device. When the gray market got the news of the iPhone 4 shortage in UK, the stores quickly increase the price of the UK 32GB models they have in stock, to $19,800 HKD.

For the US models, they cost a lot cheaper. Customers just have to spend $7800 HKD (about $1000) for a 16GB version, and $8800 HKD (about $1130) for 32GB. Since the US models are locked, customers cannot use the handsets with Hong Kong carriers. By looking at the price increase, it looks like the gray market is earning a lot of profit from the rich customers until the official launch of iPhone 4 in HK.