On 9th September 2015, Apple had announced two new products under its flagship, i.e., iPhone 6s, and iPhone 6s Plus. However, Apple launched the product only in few countries and disclosed its plans for launching these smartphones in other markets in a phased manner. Apple has no plans to launch the product in India.
Diwali and Grey Market
With Diwali festival not too far, the grey market for electronics goods in India has begun accepting preorders for these new gadgets. The existence of such market is universal knowledge. The two devices are likely to fetch almost Rs.1 lakh a piece for the mobile stores located in Mumbai’s Heera Panna Shopping arcade. It was Economic Times correspondent who found the rate that these devices are commanding as of now. The price, however, will drop following Diwali, or launch of the product in India, whichever is earlier.
iPhone 6s is commanding 70000 INR to almost 80000 INR in this market. The price for the plus model is 10000 more. There is more demand for rose gold iPhone 6s devices. Therefore, the sellers are collecting additional premium for this edition, which is ten to fifteen thousand rupees above the device’s Grey market cost. The consolation is that prices of these two devices are more than double in Chinese electronics grey market.
Smartphones have been steadily losing steam. In the light of the present scenario, it is a bit surprising that these two devices should command such high premium, especially in a market that is not regulated.