Apple's first foldable iPhone Duo is flying off the shelves since it launched last Friday; traders are reporting booming resale prices, with sealed 2TB models fetching HK$33,000 at Sin Tat Plaza.
The price climb came as 1TB and 2TB models ran short, with most buyers having opted for smaller capacities.
According to Sing Tao Daily, the sister publication of The Standard, over 200 people holding the new phones queued outside the mall before it opened at 9.45am, with police and staff managing the crowd as it spilled onto Tung Choi Street.
Among them was first-time seller Ho, who sold a Night Sky 512GB model for HK$24,000 and described his mood as "pretty good." Also joining the queue was Zhang, who made a special trip to Hong Kong to sell a Star White 512GB model at the mall, earning around HK$4,000. He said the price was slightly below his target but described the crowd surrounding the building as "very shocking."
Tang, a PhD student at Polytechnic University, revealed he had queued for more than half an hour and made HK$3,700 profit on reselling a Star White 512GB unit. Satisfied with the price, he said he would still hold off buying one for himself, citing creases and overheating as his main concerns.
While the prices varied throughout the day, the 1TB model had climbed to HK$27,000, a profit of more than HK$4,000, by the evening. Meanwhile, 2TB models have reached HK$33,000, about HK$5,000 above the original price, with the Night Sky color more popular.
In an interview the day before, Steve, a store owner at the mall, attributed the booming market to delayed delivery dates by Apple and a larger share of stock going to telecom carriers, which reduced the supply of sealed phones.
Export buyers require sealed phones, he said, pushing sealed unit prices about HK$2,000 more than the opened ones.
