Everyone is going crazy for the latest Apple (NASDAQ: AAPL) latest flagship device, Apple iPhone 6, however, there is another side of the story which tells us that people standing in the line are not the Apple fans, but the traffickers for the China’s black market. Many among standing in the lines ship the iPhone 6 to China, which can be later sold in its black market.
iPhone 6 has only been released in the Hongkong, US, UK, Japan, Europe and Australia, and due to that those people in China are going to sell these iPhones for a larger amount. Normal price of the iPhone 6 Plus 128GB is nearly $927, whereas in the black market and online the prices are as high as $2440. The prices are being doubled or thrice the original amount. It turns out to be a great business for these people as they are selling them online, and outside the store for almost double the price.
However, this is not the only case, there has been few listing on the eBay.com, providing iPhones at a higher price. The listing at the eBay is selling the iPhone for around $2500, which means that the price was marked up by more than 100% giving a profit of 77% to the owners or the sellers.
Some people are calling it a better option to invest than the stock market. As Asian Capital Holdings’ Ronald Wan put it, “This is a sure bet to make money. From a 50 percent to 150 percent markup, it’s better than the stock market.”