Post by davidcv100 on Oct 20, 2012 21:50:27 GMT -5
Gift culture in China boosts price of iPhone 5
WantChinaTimes
Staff Reporter 2012-10-21
www.wantchinatimes.com/news-subclass-cnt.aspx?id=20121021000009&cid=1202&MainCatID=12
The iPhone 5, still to be officially released in China, was being sold in the country for prices lower than expected during the Golden Week national holidays at the start of the month, but was still much more expensive than in Hong Kong, where the smartphone was released last month.
During the National Day holidays from Sept. 29 to Oct.7, the price of parallel imports of the iPhone 5 dropped to 6,800 yuan (US$1,090), much cheaper than when the device first went on sale. Market observers said the queues at Apple stores in Hong Kong were not as long as for the release of the previous 4S model last year, according to Guangzhou's Southern Metropolis Daily.
After the initial scramble to be one of the first to get hold of the device, demand has dropped somewhat, with some users complaining that the phone's casing becomes scratched too easily and its screen is prone to developing bubbles. The appearance of the smartphone is also fairly similar to its previous generations and so is considered less impressive to show off.
A vendor at the Huaqiangbei consumer electronics shopping district in Shenzhen said the price of the iPhone 5's 16GB version fluctuated between 7,000 to 7,500 yuan (US$1,120-$1,200) during the national holidays, according to Southern Metropolis Daily.
The price reflects a gift culture in China that can not be explained by economics alone, said the seller. Many people in China bought the smartphone as a gift for others as a way to seek profits greater than the value of the device, trying to get the iPhone 5 as soon as possible and thereby boosting the price of the smartphone. American consumers by contrast can wait until telecom operators officially introduce the phone to the market since they want the device for themselves.
In Hong Kong, one of the nine countries and regions where the iPhone 5 first went on sale on Sept. 21, a 16GB version sells for HK$5,588 (US$720) and the 32GB version is priced at HK$6,388 (US$825).
The store owner predicted that the price of the iPhone 5 in mainland China will hover around 6,500 yuan (US$1,040) from now to the New Year's holidays. The price will not change dramatically until telecom operators formally introduce the smartphone to China market, according to Southern Metropolis Daily. No date has yet been set for a China release, though the country's authorities have granted the device the appropriate certification.
WantChinaTimes
Staff Reporter 2012-10-21
www.wantchinatimes.com/news-subclass-cnt.aspx?id=20121021000009&cid=1202&MainCatID=12
The iPhone 5, still to be officially released in China, was being sold in the country for prices lower than expected during the Golden Week national holidays at the start of the month, but was still much more expensive than in Hong Kong, where the smartphone was released last month.
During the National Day holidays from Sept. 29 to Oct.7, the price of parallel imports of the iPhone 5 dropped to 6,800 yuan (US$1,090), much cheaper than when the device first went on sale. Market observers said the queues at Apple stores in Hong Kong were not as long as for the release of the previous 4S model last year, according to Guangzhou's Southern Metropolis Daily.
After the initial scramble to be one of the first to get hold of the device, demand has dropped somewhat, with some users complaining that the phone's casing becomes scratched too easily and its screen is prone to developing bubbles. The appearance of the smartphone is also fairly similar to its previous generations and so is considered less impressive to show off.
A vendor at the Huaqiangbei consumer electronics shopping district in Shenzhen said the price of the iPhone 5's 16GB version fluctuated between 7,000 to 7,500 yuan (US$1,120-$1,200) during the national holidays, according to Southern Metropolis Daily.
The price reflects a gift culture in China that can not be explained by economics alone, said the seller. Many people in China bought the smartphone as a gift for others as a way to seek profits greater than the value of the device, trying to get the iPhone 5 as soon as possible and thereby boosting the price of the smartphone. American consumers by contrast can wait until telecom operators officially introduce the phone to the market since they want the device for themselves.
In Hong Kong, one of the nine countries and regions where the iPhone 5 first went on sale on Sept. 21, a 16GB version sells for HK$5,588 (US$720) and the 32GB version is priced at HK$6,388 (US$825).
The store owner predicted that the price of the iPhone 5 in mainland China will hover around 6,500 yuan (US$1,040) from now to the New Year's holidays. The price will not change dramatically until telecom operators formally introduce the smartphone to China market, according to Southern Metropolis Daily. No date has yet been set for a China release, though the country's authorities have granted the device the appropriate certification.