Cannot wait for 16 October? iPhone 6s, 6s Plus available at over Rs 1 lakh in grey market

Iconic tech giant Apple will unveil its latest iPhone 6S and iPhone 6S Plus in India on October 16. This will be the fastest iPhone rollout ever for the Indian market, coming less than a month after the latest models became available globally. However, ardent Apple fans who can’t wait for the official launch of iPhone 6S and iPhone 6S Plus can purchase the device from the grey market. 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.