Now that the initial hype about iPhone 6 has waned, the prices have sunk by up to $1,000.
The iPhone 6 and the iPhone 6 Plus units may be still be hard to come by in China, but the price of the smuggled units is already on the downward spiral, according to a report.
Some entrepreneurs in China managed to lay their hands on the phones and are now selling them at low prices due to lower than expected demand.
Right after launch, the phones were selling for between RMB 12,000 to RMB 15,000 for the low end models, but they are now selling for RMB 6,500 to RMB 8,800.
Despite the low price, people still buy iPhone units from US and elsewhere and take them to China. Seller and smugglers hoped they would benefit heavily on these devices believing that the demand in China would be high, but it has turned out that that is not the case.
It seems that most consumers are just waiting for the official launch. It may also be that Apple’s able competitors like Xiaomi are already serving the needs of China’s consumers.
Another reason for the low demand could be the realization by some users that the iPhones are prone to bending.
Apple sold a whopping 10 million units of the devices in the first 72 hours on store shelves. But the sales are now going down and even Apple share price has been affected.
It is still not know when Apple will launch the iPhones in China but there is a possibility that it might be in early October.
Apple is just waiting for the final okay after receiving a partial regulatory approval. China is an important segment of Apple’s business, representing about 16 percent of its total sales in the second quarter.