iPhone 6 launch triggers lucrative black market in China

The sight of Apple fans lining up outside stores days before the launch of an Apple product dying to be among the first ones to get their hands on the coveted product has become a familiar custom in the West.

 

The Apple iPhone 6 which went on sale from 19 September, was welcomed by Chinese black marketeers who were among the first ones to stand in the queues with the purpose of selling it at a higher cost in China.

 

A 6-minute video shot by a YouTube filmmaker Casey Neistat, claims to highlight the black market trade in the industry. The video documents  people standing in the queues for the sale of the latest iPhone last Friday that also included chinese smugglers who were seen buying phones in bulk to smuggle them to China.    

 

The filmmaker is also known for viral videos such as  "Bike Lanes," "Make It Count," and "The Dark Side of the iPhone 5S Lines".

 

According to Quartz, the sale of the new iPhone has likely been delayed in China due to regulatory hurdles from Beijing. They further report that a 128 GB iPhone 6 Plus will sell for $2,580 in China — more than twice its actual value. The delay has contributed in boosting up black market trade in the country. A 128GB gold iPhone 6 Plus was reportedly listed on Ebay with a starting price of $1625 on Friday.