iPhone 5 Hits Grey Market in Hong Kong Starting at $1100

M.I.C. gadget points to a report from the ePrice forums indicating that grey market vendors in Hong Kong have already managed to obtain limited stocks of the iPhone 5 and have begun selling them starting at the equivalent of about $1100. Apple's retail price will start at roughly $720 when sales officially begin on Friday.

The report names the seller as "Mr. Lo", who has a history of selling Apple products prior to their official launches at significant markups.

When Lo was asked about the sales of the iPhone 5, whether there would be a demand for it, he said the stock for the iPhone 5 is quite tight, so he thinks it will be alright to re-sell the phone for a hefty markup, at least for the first two weeks. What’s more, he has prepared “secret” couriers in U.S. and Europe to hop on planes to Hong Kong after securing about hundreds of iPhone 5s. Right now Lo has already received 100-200 orders from mainland China customers before the iPhone 5 goes on sale in Hong Kong’s Apple retail store.

iphone 5 hk grey market
Lo is also said to have a standing offer to purchase sealed iPhone 5 units from customers at a premium of roughly $200 over their purchase price, as he expects to continue selling the devices at even higher prices due to tight initial supplies.

Hong Kong has been a popular point of entry for grey market iPhones headed to China, where the devices have launched at much later dates than in other countries around the world. These Chinese and Hong Kong grey markets are also fueled by purchases in the United States and other countries that are shipped back to meet demand in Asia, although Apple has instituted purchase limits and delays in launching unlocked versions in the United States in order to help combat this issue.

Hong Kong is part of the first round of launches for the iPhone 5 on Friday, but Apple is not taking online pre-orders at the moment and is advising customer that in-store sales will begin at the standard 8:00 am launch time on Friday.

Top Rated Comments

timshundo Avatar
122 months ago
His shirt cracks me up
Score: 32 Votes (Like | Disagree)
sevimli Avatar
122 months ago
Who sells the iphones to him in the first place? Apple should able to track it down with the serial numbers easily... I hate these kind of people, dont tell me free-market bs please.
Score: 21 Votes (Like | Disagree)
aohus Avatar
122 months ago
what's sad is that his T-shirt is an imitation too.

i see so many copycat hollister/abercrombie shirts in east asia.

and those brands were 'trendy' 6+ years ago!
Score: 20 Votes (Like | Disagree)
naeS1Sean Avatar
122 months ago
What the hell is a grey market? I thought they were black...
Score: 17 Votes (Like | Disagree)
slicecom Avatar
122 months ago
You didn't hear?...they changed the name to grey. If they called it black, that would be considered racist...

I'm grey, and I consider this racist.
Score: 13 Votes (Like | Disagree)
wkadamsjr Avatar
122 months ago
His name is "Mr. Lo"? Any chance the first name is "Hung"?
Score: 13 Votes (Like | Disagree)

Popular Stories

iPhone 14 Mock pill and hole thumb

ProMotion Now Expected to Remain Exclusive to iPhone 14 Pro Models, Not Expand to Entire Lineup

Sunday January 16, 2022 8:56 am PST by
Continuing the tradition set with the iPhone 13 Pro, only the highest-end iPhone 14 models will feature Apple's ProMotion display technology, according to a respected display analyst. Ross Young, who on multiple occasions has detailed accurate information about Apple's future products, said in a tweet that ProMotion will not be expanded to the entire iPhone 14 lineup and will remain...
safari icon blue banner

Safari Bug Allows Websites to Track Your Recent Browsing Activity in Real Time [Updated]

Sunday January 16, 2022 3:37 pm PST by
A bug in WebKit's implementation of a JavaScript API called IndexedDB can reveal your recent browsing history and even your identity, according to a blog post shared on Friday by browser fingerprinting service FingerprintJS. In a nutshell, the bug allows any website that uses IndexedDB to access the names of IndexedDB databases generated by other websites during a user's browsing session....
ipad air 4 video

New iPad Air Rumored to Launch This Spring With A15 Chip, 5G, Center Stage Camera, and More

Saturday January 15, 2022 8:05 pm PST by
Apple is planning to release a fifth-generation iPad Air with similar features as the sixth-generation iPad mini, including an A15 Bionic chip, 12-megapixel Ultra Wide front camera with Center Stage support, 5G for cellular models, and Quad-LED True Tone flash, according to Japanese blog Mac Otakara. Citing reliables sources in China, the report claims that the new iPad Air could be...
Unlikely Products 2022 Feature

Six Rumored Apple Products You're Unlikely to See This Year

Saturday January 15, 2022 2:06 pm PST by
Much has been said about what consumers could see from Apple in 2022, but the company is also working on a handful of rumored products that aren't expected to be unveiled for at least another 12 months, and in some cases a lot longer. Of course, that's assuming they get released at all. Apple works on many potential products some of which ultimately never see the light of day. With that in...
AirPods Pro Gen 3 Mock Feature Red

AirPods Pro 2 Could Start a New Accessory Ecosystem

Friday January 14, 2022 2:34 am PST by
Apple's second-generation AirPods Pro could arrive alongside a new series of accessories, recent leaked images suggest. Alleged leaked photos of the next-generation AirPods Pro obtained by MacRumors showed a charging case with a metal loop on the side for attaching a strap. Apple has not used this design for any of its other AirPod models and it is unclear why it would be added in this...
netflix2

Netflix Again Raises Prices for All Plans, 4K Streaming Now $20 Per Month

Friday January 14, 2022 12:46 pm PST by
Netflix today updated the prices for its streaming plans, and all of its offerings are now more expensive. The Basic plan is now priced at $9.99 per month, the Standard plan is priced at $15.49 per month, and the Premium plan is priced at $19.99 per month. The Basic plan is $1 more expensive, up from $8.99 per month. This plan allows users to watch on just one screen at a time, and it limits ...
tesla carplay solution

Developer Showcases Apple CarPlay Workaround for Teslas

Monday January 17, 2022 7:24 am PST by
A Tesla Model 3 owner has resorted to a workaround to implement Apple CarPlay in his vehicle, amid no sign of official support from Tesla (via Tesla North). Apple CarPlay and Apple Music support are among the most-requested Tesla features, but with no indication that Tesla is willing to implement Apple CarPlay in its vehicles, Polish developer Michał Gapiński took matters into his own...
top stories 20220115

Top Stories: iPhone 14 Pro Rumors, iCloud Private Relay Controversy, iOS 15.2.1 Released, and More

Saturday January 15, 2022 6:00 am PST by
Hole-punch? Pill? Hole-punch and pill? Rumors about what the front camera system on the iPhone 14 Pro will look like are evolving rapidly, and it now appears we might be getting a novel but potentially controversial design later this year. Other major stories this week included some confusion and controversy about iCloud Private Relay being disabled for some T-Mobile customers, increasing...