The latest Apple iPhone 14 Pro and Pro Max models, which were imported for sale in India, are being sold in Delhi’s grey markets for more money than the MRP, despite the fact that supplies are not available in traditional brick and mortar retailers or online.

In Delhi’s Gaffar Market, the iPhone 14 Pro and Pro Max are selling for Rs 12,000 to Rs 15,000 more than the listed price. Grey market vendors believe there is a tremendous demand for the devices since they went on sale on September 16.

The 128GB iPhone 14 Pro’s standard model costs between Rs. 1,41,000 and Rs. 1,45,000, according to numerous grey market dealers ET spoke with, while the 128GB iPhone Pro Max costs Rs. 1,52,000. This is in contrast to the official starting rates for the iPhone 14 Pro and Pro Max, which are Rs. 1,29,900 and Rs.

Although the Pro models have been available for purchase since last Friday, major shops claim they are out of stock. The Pro models also have a four- to five-week waiting period on Apple’s official online shop.
Grey market merchants ET spoke to claim that since Saturday, they have been selling 20 to 30 units each day of the Pro and Pro Max variants. Other units came from Dubai and New Zealand, while others were imported equipment intended for India. The foreign units were marginally less expensive.
ET’s emails to Apple went unanswered.

“Grey market prices have increased by 10-15% as a result of low official channel inventories of the iPhone 14 Pro and Pro Max variants. What is astounding is that 70-80% of the devices sold on the black market are made in India “Navkendar Singh, associate vice president of IDC India and head of device research, stated.
According to a knowledgeable industry insider, one potential explanation for the Indian units ending up on the grey market could be that the retailers themselves had pre-ordered the units prior to the sale, purchased them at the official prices, and are now reselling them at a premium in order to make a quick buck.

The iPhone Pro models are not produced in India. Apple imports them from other nations, paying an additional 18% in GST on top of the 22% basic customs charge, which is then passed on to the end user. As a result, the Pro models cost much more in India than they do in other nations like the US.
A supply shortage is anticipated for the first few days, according to Singh, who also noted that Apple often provides fewer inventories for the Pro versions in the first wave of sales. “The corporation is primarily taking care of the initial wave’s preorders. From October, the prices will stabilise.

Demand for the Pro models is higher since this year’s addition of a new chipset, facial enhancements like the Dynamic Island, and a high-resolution triple camera arrangement has made a bigger difference between the normal and Pro models.
According to renowned Apple analyst Ming Chi Kuo, there is a high demand for the iPhone 14 Pro models. As a result, Apple has requested that Hon Hai, a Foxconn subsidiary and its manufacturing partner, move from producing the iPhone 14 to the iPhone 14 Pro models.
According to him, “it’s equivalent to an increase of around 10% in shipping prediction of the iPhone 14 Pro models in 4Q22.”

Simpi Kumari did B.A. in Journalism and Mass Communication from LNMU Bihar and Masters from Chandigarh University. She is a passionate blogger, who understands the power of words and has a keen interest in writing articles and news story. Simpi is currently working as an intern at TheShiningMedia.in. Simpi’s strength are self motivated hard work and a disciplined person. She is reachable on [email protected]

By Simpi Kumari

Simpi Kumari did B.A. in Journalism and Mass Communication from LNMU Bihar and Masters from Chandigarh University. She is a passionate blogger, who understands the power of words and has a keen interest in writing articles and news story. Simpi is currently working as an intern at TheShiningMedia.in. Simpi's strength are self motivated hard work and a disciplined person. She is reachable on [email protected]

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