iPhone 5 Grey Market Prices Set at $1500 in China!

The iPhone 5 was only unveiled (officially) yesterday, yet Chinese iPhone smugglers are already taking pre-orders for the newly launched Apple phone!

Grey markets and PC malls across China are preparing for grey market iPhone 5 to start arriving on the 21st September the global launch of the latest version of Apple's popular smartphone.

Smugglers are already planning to bring in the new iPhone via Hong Kong on the day of release so that Chinese iPhone fans can get the new phone without having to wait months for the official China launch date!

However the price of being the first to get an iPhone 5 in China is high, with grey market smugglers setting the iPhone 5 price at a minimum of 10,000 Yuan which is $1500! That's double the price the scalpers and smugglers will be paying for the new iPhone 5 across the border in Hong Kong!

Regardless of the ridiculous price tag pre-orders are already filling up in the grey markets and like every iPhone launch in China it is set to be a sell out!

Source: Techweb via Techinasia