Gold iPhones Sell Out Instantly In China, Hong Kong

News reports did not list the number sold

   

Gold iPhones Sell Out Instantly In China, Hong Kong

Status seekers in China and Hong Kong helped Apple (AAPL) sell out of its stock in new gold iPhones in the region.

All were bought in pre-orders online yesterday — the first day such sales were allowed.

“The Apple reservation page went down once. In forums, many people talked about how they were begging to buy the gold model,” according to state-run new site sh.eastday.com, adding that by 1 p.m. on Tuesday all three 5S colors in every store had been reserved.

According to AFP:

Favored by emperors and representing wealth and luxury inChinese culture, gold has become a badge of the country’s newly wealthy.

One dealer told AFP that the gold phones could still resell at a profit. …Another told Hong Kong newspaper Apple Daily that the gold iPhones could sell for at least HK$8,000 ($1,000), an HK$2,000 mark-up on the official price.

Apple’s Hong Kong website on Wednesday took down the link to the 5S pre-order page, saying reservations would resume on September 21.

“Gold represents you are actually holding a new phone,” Lau Chi-kong of G-world Mobile in the commercial district of Mong Kok told AFP.


Article printed from InvestorPlace Media, http://investorplace.com/2013/09/gold-iphones-sell-out-instantly-in-china-hong-kong/.

©2014 InvestorPlace Media, LLC

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