Grey market price of iPhone in india at Rs 20-26K

Grey market price of iPhone in indiaThe announcement by telecom service-providers Vodafone and Airtel that they were launching Apple’s iconic product, the iPhone, in India for their customers, has generated much excitement in the city’s grey market for electronics goods.

Grey market traders are confident that, contrary to the trend for other electronics goods, the availability of the iPhone in the official market would enhance sales in the grey market, too, and generate even more business than before. The iPhone is available on the grey market at much lower rates than its price in the official market.

Last week, Vodafone and Airtel had announced the launch of 8 GB and 16 GB versions of the iPhone in the official market at a price of Rs 31,000 and Rs 36,000, respectively. The companies have also started accepting bookings of this much-awaited product. The city’s grey market of electronics goods, however, is unperturbed by the competition because the gadget is available there at much lower prices.

Grey market traders said they had been selling iPhone for Rs 20,000 to Rs 26,000 but the gadget’s price had fallen slightly after Vodafone and Airtel announced its launch in the official market. The traders said they expected to sell many more iPhones because the electronic novelty was more expensive in the regular market.

“We are expecting higher sales because of iPhone’s launch in the official market,” said a mobile phone dealer of the city’s grey market. “We are offering 8 GB iPhones for Rs 20,000 to Rs 22,000 apiece and 16 GB iPhones for Rs 24,000 to Rs 26,000 apiece. It is possible to sell the gadget at such lower prices because telecom service providers in the US and UK sell the iPhone for Rs 8,000 to Rs 14,000 a piece provided the customers also subscribe to their telecom services. The iPhone they offer their customers is 'locked’ to their telecom services. This locked phone is brought to India by big players of the mobile market in Mumbai and Delhi where they are 'unlocked’ to be sold to local phone dealers.”

Another mobile phone dealer of the grey market said they are, currently, selling 15 to 10 iPhones per day. “We expect to sell more now,” he said. “Mobile phone users who switch to a new set every few months do not want to spend too much on every new mobile phone they purchase. They prefer buying from the grey market because they have to pay between Rs 5,000 and Rs 10,000 more in the official market.”

Many youth and businessmen are planning to get their iPhones from the US and UK. A youth said he had asked his relatives, who would be visiting India in winter, to get an iPhone for him. “I will then take it to one of the mobile repairers in the city’s grey market and get it 'unlocked’ for a fee. Currently, the repairers charge between Rs 1,500 and Rs 4,000 to unlock an iPhone. I will then have the iPhone for almost half its official price.”