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Gray market iPhone 6 prices plunge in China

Gregg Keizer | Sept. 24, 2014
Meanwhile, customs authorities have seized hundreds of the new smartphones.

Hong Kong is the nearest market where the iPhone 6 has officially debuted, although sellers quoted by the People's Daily claimed that they were also obtaining devices from elsewhere, including Australia and the U.S.

Some of those iPhones that originated in the U.S. may have come from the enormous lines in New York City that videographer Casey Neistat documented on Friday.

In the six-minute video, Neistat followed some of those waiting in the lines who bought multiple iPhones with cash, then within minutes handed them over to others outside the stores.

Many of those whom Neistat spoke to were ethnic Chinese -- he had a translator with him -- but almost all either declined to speak on camera or claimed that they were buying it for themselves or a loved one.

The outside-the-store buyers carried sacks of iPhones, implying that the devices were destined for countries like the PRC, where the new models were unavailable.

Such practices are not new: In years past, when a new iPhone reached China only months after being sold elsewhere, buyers have regularly lined up, bought the maximum number of iPhones allowed per customer, paid in cash, and then resold them immediately afterwards.

 

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