People Are Buying iPhone 7 in S’pore to Resell for Profits Up to $2,000


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Here’s the truth about iPhone 7: people are coming in to Singapore to buy them and resell them in countries that are not available yet.

The iPhone 7 was announced on 7 September 2016 and it boasted an impressive new array of features, from its wireless earphones to its water-resistance build. Despite its hefty price-tag, it already has raving reviews, with CNET giving it a 4.5 stars out of 5 stars, even going to the extent of saying that it has “everything you need in a phone, except the headphone jack,” and Techrader giving it 4 out of 5 stars.

The phone is available for pre-order on 9 September 2016, and is due be collected on 16 September 2016. But even before the phones were ready for collection, the phone ran out of stock.

And of course, Apple’s stocks had a bullish week: it opened on 9 September at 103.13, but rose to 115.57 on 15 September 2016.

However, just like its predecessors, the phone will only be released to limited countries: the first wave will be on 16 September 2016 with Australia, Austria, Belgium, Canada, China, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Puerto Rico, Singapore, Spain, Sweden, Switzerland, Taiwan, UAE, the UK, US Virgin Islands and the US.

As you can see, Singapore is the only Southeast Asia country to have the phone.

So you can expect what’s going to happen to Apple fans around Singapore region—or to enterprising people.

In a Channel NewAsia report of the queues for iPhone 7 on 16 September 2016, they managed to interview two tourists who were there for the iPhone: one from Vietnam and one from Thailand. The Vietnamese admitted that she would sell the phone in Vietnam for at least SGD$3,000—that’s a profit of almost SGD$2,000.

There was also another person who admitted that he would be reselling his iPhone on online forums, projecting it to fetch about $2,100. That’s still a cool $1,000 or so profit.

Now, if you think about it, spending a few hours to earn $1,000 to $2,000 is a pretty good deal.

In Hong Kong, another country in Asia that carries iPhone 7, they used to have a quota for buyers to prevent people from flipping them.


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Now you know why there’s a storage in Singapore: people are flipping iPhone.

But well, on the other hand, at least Samsung Galaxy Note 7 users are now happily exchanging their phones—even receiving $30 shopping voucher for free.

Featured Image: Lewis Tse Pui Lung / Shutterstock.com

This article was first published on goodyfeed.com