People wait in line outside the Apple Store on Fifth Avenue on the day of the release of the iPhone 6 in New York City. Photo: IC

Mainland fans of Apple Inc's latest additions to its iconic iPhone lineup were disappointed by the absence of the market from the iPhone maker's initial markets for the "bigger than big" phones.

Beginning on Friday, the availability of the 4.7-inch iPhone 6 and its 5.5-inch sibling was extended to over 20 additional countries and regions that included Austria, Belgium, Denmark and Taiwan, following the first 10 selling markets covering the US, Japan, Singapore and Hong Kong which started shipping the phones on September 19, according to the Cupertino, California-based company.

While some were rattled by Apple's decision, which was in contrast to the release of the last iPhone in 2013 after Apple launched it in the mainland at the same time as other major markets, others were stimulated as they sensed a chance to convert the phones into money reapers. 

Scalping indulgence

"The asking price for the iPhone 6 was at least 10,000 yuan ($1,626.83) on the debut day [September 19]," a saleswoman at an IT marketplace in Beijing's Zhongguancun, a retail hub for electronics devices, said on Friday.

For the iPhone 6 Plus, the asking price topped 20,000 yuan.

In the US, however, the iPhone 6's contract-free version ranges from $649 to $849, while the iPhone 6 Plus goes for between $749 and $949.

In other available markets, Japan was considered to have the most affordable prices for mainland importers due to its weak currency, grabbing the position usually held by Hong Kong.

Sales information on Apple's official site for Japan showed the iPhone 6 is being sold for between 67,800-89,800 yen ($621.79-$823.55), while the 6 Plus is priced at between 79,800-99,800 yen.

Still, the US and Hong Kong versions of the devices are the most inquired-about by buyers, said another salesperson at the IT marketplace, who disclosed that his booth has sold a dozen units each day since the phones went on sale globally.

On taobao.com, the country's largest online marketplace, there is even a Web page specifically devoted to the iPhone 6 and 6 Plus sourced from markets including Japan and the US.

While the mainland's grey market for iPhones is not new, an unprecedented appearance of Chinese scalpers and buying agents for the gadgets worldwide was seen this year.

On Manhattan's famed Fifth Avenue where Apple's flagship store is located, an elderly Chinese woman was purported to have grabbed the very first iPhone 6 in New York, said recent media reports, according to which she was only one of many Chinese middle-aged woman waiting in the line to secure the phones for resale.

In addition, some Chinese workers in New York City moonlighted as line scalpers, offering their positions in lines for as high as $400 outside the store on the debut day, Beijing Youth Daily reported in an article posted on September 21.

In Singapore, where the iPhone 6 became available on September 19, some Chinese-born Singaporeans and Chinese studying or working there also engaged in the iPhone reselling business, Bryan Wang, vice president and principal analyst at Forrester Research, said on Friday.

In the first few days following the launch, black market prices for the gadgets generally stood at $300-400 more than the official prices set for the market, disclosed Wang who had previously studied in Singapore.

But the decent payout for reselling the phones may simply just be a fleeting occurrence, as asking prices for the phones are already falling. On Friday, the iPhone 6 was being offered for as low as less than 6,000 yuan, while the iPhone 6 Plus can be purchased for slightly over 8,000 yuan, said the saleswoman at Zhongguancun.

Clouded prospects

In electronics markets along Shenzhen's Huaqiangbei Commercial Street, a renowned hub for a wide range of IT products in the country, a flock of retailers hawking the gadgets smuggled in from Hong Kong are now facing the prospect of losses, according to a Nandu Daily report on Thursday.

After September 20, the asking prices for the gadgets started to suffer big drops, the report said citing a vendor named Xiaodong from one of the electronics markets who claims it is a rare phenomenon.

The phones that were confiscated by Shenzhen customs in the days following the Hong Kong iPhone release are only a tiny part of the total number of smuggled phones, Xiaodong confessed in the report, attributing the big price fluctuations to the great number of individual smugglers, hailing from Hong Kong in particular, who have newly joined the underground market and asked for lower commissions compared to retailers in the markets, driving down the overall prices.

Intense competition in the markets, literally only a few steps away from Hong Kong, has resulted in some hoarders who had sourced the phones from smugglers reporting losses of several hundred yuan, said the report.

To add salt to their wounds, industry watchers estimated the prices will continue in a downward spiral in the coming days, especially in light of growing speculation that the gadgets may soon hit the mainland market.

The latest iPhone models are slated to come out in the mainland market on October 10, a number of Chinese media outlets have reported in recent days, following remarks by Miao Wei, head of the country's telecom regulator, who said on September 23 that the latest iPhones have entered the final approval phase.

It is only a matter of time before the phones launch in the mainland market, said Miao, calling for patience from iPhone enthusiasts.

A spokeswoman for Apple in Beijing could not be immediately available for comment. Efforts by the Global Times to reach the ministry for confirmation also failed by press time.

Salespersons at Beijing's Zhongguancun markets said they had no knowledge about the launch speculation when asked by the Global Times on Friday, but some potential buyers have decided against making an early purchase after hearing the news.

"I will wait for the official versions to come to the mainland market," Betty Luo, a Beijing resident in her late 20s, said on Friday.

She had previously considered getting a 16-gigabyte iPhone 6 Plus from an online retailer for 8,800 yuan.

In anticipation of further drops in the phones' asking prices prior to Apple's official announcement for the mainland market, Forrester Research's Wang noted it signifies the gadgets are losing traction among consumers.

"I can't find anything truly innovative in terms of either the design or the functionality," the analyst commented, foreseeing poor prospects particularly for those who have made a substantial investment in trying to profit from the new iPhones.