Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

What Kind of Person Pays $3,700 for an iPhone 5?


A deep-pocketed Russian who doesn't want to wait until December, that's who.

Editor's note: This article was originally published on September 13, 2012.

MINYANVILLE ORIGINAL Pre-orders for the Apple (NASDAQ:AAPL) iPhone 5 begin September 14 at 12:01 a.m., Pacific time. The device, which will ship on September 21, retails for $649, $749, and $849 for the 16GB, 32GB, and 64GB models, respectively. Buy one on-contract through AT&T (NYSE:T), Sprint (NYSE:S), or Verizon (NYSE:VZ), and those prices drop to $199, $299, and $399.

Live in Russia? That iPhone'll be $3,700, please.

A longer certification process for smartphones in Russia means the iPhone 5 won't officially hit the Russian market until mid-December. In the meantime, the "grey market" (products obtained from sources other than the manufacturer or its licensed importer) is filling demand at astronomical prices.

India, China, UAE Also Going Grey

It's happening elsewhere, too. A vendor in Karol Bagh, India, tells the Business Standard that, "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."

Chinese consumers are reportedly paying "a minimum of 10,000 yuan," or $1,500, for the iPhone 5. And in the UAE, retailers are expecting to see iPhone 5 prices as high as $2,700.
< Previous
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos