Scalpers Seek Exorbitant Profits Ahead of iPhone X Release(Yicai Global) Sept. 14 -- Although the industry data show that Apple's mobile phone market in China is gradually being encroached by domestic mobile phone companies, it does not stop the scalpers to profit during the supply shortage after Apple Inc [NASDAQ:AAPL] unveils a new iPhone every time. They optimistically calculate that after the arrival of the first batch of new iPhone, its price can well hit over CNY20,000 [USD3,050].
Ahead of the product release, the scalpers were already in action. A long-time scalper named Jia told the Securities Daily that although the pre-sale price is around USD1,000, after the release of new iPhone products, the buyers will have to pay 'retainage' in line with the market demand.
"You are guaranteed to be the first to get the phone, you can't make that happen yourself," Jia said. The specific price cannot be certain right now, but the first batch should be over CNY20,000, Jia estimates.
The web link for pre-orders sent by another scalper named XiaoJin to the reporter clearly noted that "the latest delivery is before 23.59 p. m. on Oct. 7." And the sales record on this link show that there are already 1,689 people who made payments.
According to Apple's official website, the starting prices for iPhone 8 and iPhone 8 Plus in Chinese mainland are CNY5,888 and CNY6,688 respectively, and the starting price for iPhone X is CNY8,388.
