Apple adopts lottery system for iPhone 5 sales in Hong Kong
Summary: Scalpers are reselling iPhone 5 up to US$1,550 per set due to scarce supply in the city.
Apple has suspended direct sales of the new iPhone 5 in Hong Kong, choosing again to adopt a lottery reserving system which requires consumers to send applications online a day prior the purchase date.
Only those who have received a confirmation e-mail will be able to purchase up to two sets of iPhone 5 at Apple stores in Hong Kong.
A similar approach was adopted by Apple for the sales of Apple's new iPad in the first half this year, which is believed to combat a large number of scalpers looking to resell these machines to mainland China for profits.
Due to the lottery system, local report said the number of fans queuing outside the Apple retail store in Hong Kong was limited on Friday when iPhone 5 was officially launched in the city.
However, the scarce supply pulled up the selling prices of iPhone 5 in the underground market in Hong Kong. Reports said scalpers purchased the new iPhone 16G--which is priced HK$5,588 (US$721) in the Apple retail store--for HK$8,000 (US$1,032) from those who succeeded in buying one through the lottery system. The scalpers will then resell the handset between HK$8,500 (US$1,096) and HK$12,000 (US$1,548).
The Chinese market was not on the list of the first-batch of iPhone 5 sales. However, Chinese smugglers indicated in the reports that by the night of Friday, people in Beijing will also be able to purchase iPhone in the underground market, but at an even higher cost.
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Talkback
Cyrus' really. . . .
The system is flawed
I doubt anyone is getting joy from the online application process. I have applied every day for 4 weeks from launch, nothing. I a have a valid HK ID, a @me email address and nothing.
The grey phones are everywhere and like of official supply as is demonstrated by my experience results in 2 things:
1. Pent up demand and increased opportunity to the grey market sellers to make super profits. Grey phones are everywhere, official phones are no where. Grey sellers are loving it. They love Apple's strategy. More money for them.
2. Apple is irritating loyal customers. I now own a Galaxy Note 2 LTE, A Galaxy Note 10.1 and I just bought my wife a Galaxy SIII LTE. All easily available at launch date. Guess what, I am loving them. Had I had access to the Apple devices on launch I would not have taken the leap and Apple would not need to resort to costly court battles to try and stop Samsung from beating them.
Apple continue along this path = big trouble. My next step, sell my Apple shares and by more Samsung.
Iphone Lottery a joke