India's Grey Market for Smartphones: Apple Pricing in India
It's not all black and white for smartphones in India.
Economic Times reports that for the first time, the grey market for a smartphone is buzzing even after the official launch in the country as cheaper prices of the device offered through unauthorised channels attract customers.
Apple's latest iPhone 6s and 6s Plus phones are selling out fast in grey market hubs such as Mumbai's Heera Panna, New Delhi's Gaffar Market, Kolkata's Fancy Market and even on eBay, thanks to high official prices of the devices due to a taxation change and a softening rupee.
Apple sells the new iPhones in India at prices that are as much as Rs 14,000-16,000 higher than in markets such as the US, the Middle East, Singapore and Hong Kong, from where the grey market models are mostly sourced. That gives grey market sellers in India sufficient cushion to aggressively price their models.