Apple’s iPhone 6s, 6s Plus available for pre-order at over Rs 1 lakh in grey market: Reports

Apple announced its latest flagship smartphones – the iPhone 6s and the iPhone 6s Plus on 9 September. India wasn't on the initial list of countries to get the device. Neither have official launch dates for India been released.

However, it is estimated that Apple could launch the iPhone 6s and the iPhone 6s Plus by Diwali to cash in on the festive season in India. Seizing the opportunity, the grey market in India has begun taking pre-orders.

According to a report in the Economic Times, a mobile store owner at Mumbai's Heera Panna market said the price of the iPhone 6s and 6s Plus will be around Rs 1 lakh. Although that seems like an astronomical sum for a smartphone, the grey market would be able to command such prices only for the short duration between the US rollout and the launch in India.

The report adds that the iPhone 6s would sell at an average selling price between Rs 70,000 and Rs 80,000. The iPhone 6s Plus would selling at an average price between Rs 80,000 and Rs 90,000. The Rose Gold edition of the device seems to come at an added premium of Rs 10,000 to Rs 15,000.

If you believe that's a high sum, consider that the prices rise even higher in China's grey market. According to a report in the South China Morning Post, "The asking price for a 16 GB iPhone 6S (as the new model is expected to be called) is between 8,900 and 9,250 yuan (US$1,300-1,450) while prices for larger-screen 128 GB iPhone 6S Plus ran as high as 21,000 yuan (US$3,300)." $3300 works to approximately Rs 2,20,000!

TheNational reports that the latest iPhones would hit the UAE grey markets within 2 weeks. Quoting a retailer in Abu Dhabi, the report says, "People have been asking when we're going to sell the iPhone 6S for at least the past 10 days. I expect we will get it a day or two after it becomes available in the UK and the US."

The report adds that last year the iPhone 6 and 6 Plus sold for a premium of over Dh 1,000 (Rs 18,000) on the retail selling price.

While reports emerge that premium smartphones continue to witness a dip in sales, the sky rocketing prices commanded by these devices in the unregulated market suggests the high level of interest in them.

Tags: Apple iPhone, grey market, iPhone 6s, iPhone 6s India launch, iPhone 6s plus, iPhone 6S price

Source: Apple's iPhone 6s, 6s Plus available for pre-order at over Rs 1 lakh in grey market: Reports