Zee Media Bureau
New Delhi: Apples iPhones are selling like hot cakes in the grey market of mobile phones in India, as cheaper selling price is not deterring customers to buy from an unauthorized channel.
According to a report in The Economic Times, iPhone 6s and 6s Plus phones are in huge demand in the grey market hubs in the country such as Mumbai's Heera Panna, New Delhi's Gaffar Market, Kolkata's Fancy Market and even on eBay as prices in these markets are lower than the official price by Rs 5000 to Rs 11,000.
Apple's iPhones in India are Rs 14,000-16,000 higher than in markets such as the US, the Middle East, Singapore and Hong Kong, from where the grey market models are mostly sourced. High tax and a softening rupee has made the iPhones in India pricer.
As per the report, Apple had a muted launch of the iPhones in India on October 16, with several stores saying sales were 40 per cent lower than last year and bigger chains reporting, at best, a 20 per cent increase in sales. The company's initial plan was to triple sales.
The latest iPhones cost between Rs 62,000 and Rs 92,000 and are Rs 8,500-9,500 more than last year's launch prices.
The report adds that on eBay, an imported iPhone 6s 16GB model was selling at Rs 53,153 on Monday while its official price is Rs 62,000.
The iPhone 6s Plus 128GB model was available for Rs 80,180 on eBay compared with its official India price of Rs 92,000.
The report says that sensing opportunity, some sellers at Gaffar Market and Kolkata's Air-Conditioned Market have cut discounts.
