Pay Double to Buy iPhone 5 in India till Official Market Release

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Pay Double to Buy iPhone 5 in India till Official Market Release

While Apple launched the much hyped iPhone 5 on Wednesday, it also announced that the smartphone will be available on pre-order from September 14 and will be launched on September 21 and 28 in certain countries. However, talking about Indian market, Apple has not revealed any details and analysts predict that the iPhone 5 will be released in the country in December.

With that being said, it is quite evident that the iPhone 5 will reach the Indian market months after the US release, which will be disappointing for the Apple fanboys in the country.

However, if the die-hard Apple fans want to grab the iPhone 5 before the official release in India, there is a way to get the handset from September 21, the official US release date, but the catch is that they will have to pay double the price.

Wondering how it is possible? Of course through the grey market only. Grey markets in India - Palika Bazaar in New Delhi, Fancy Market in Kolkata, Heera Panna in Mumbai and Burma Bazaar in Chennai were selling the Apple products before Reliance Group brought the first Apple retail store in India in 2007.

Likewise the other Apple products the iPhone 5 is also expected to retail in these markets. Apple fans prefer the Ghaffar Market, Karol Bagh, Palika Bazaar and Nehru Place in New Delhi, while Heera Panna, Alpha and Chor Bazaar in Mumbai are famous for smuggled iPhones.

The Apple fanboys go to the extent of paying double the price also to get the product within 24 hours of its US release.

According to a Business Standard report, a vendor from Karol Bagh said, “The premium charge would depend on a lot many factors, like when the product would be officially launched in India; the official price and hype in the market. But from our previous experience, we have seen people willing to pay even double the official price to get the product within a week of its US launch.”

Also, once the products hit the Indian market officially, the grey markets drop the prices, thereby attracting the consumers to them instead of the Apple retail stores.

Analysts assume that the official price of iPhone 5 could be around Rs. 50,000 in India.

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