Apple Inc.(NASDAQ:AAPL) has suspended direct sales on the latest iPhone 5 in Hong Kong, deciding to adopt a lottery reserving system that needs consumers to send applications online a day ahead of the purchased date.
Only those people, who have received confirmation email, will stand at a chance to buy two sets of iPhone 5 at Apple stores in Hong Kong.
A similar approach was adopted by Apple for the sales of the company’s latest iPad in the first half of this year. This move is believed to combat a large number of scalpers, who are looking forward to resell these machines to mainland China in order to gain profit.
A local report stated that the number of fans standing in the queue outside the Apple retail store in Hong Kong was restricted on Friday when iPhone 5 officially hit the city stores.
The scarce supply of iPhones pulled up their selling prices in the underground market in Hong Kong. Reports revealed that scalpers bought the new iPhone 16G that is priced at HK$ 5,588 in the Apple retail store. The scalpers are likely to sell the handset between HK$ 8,500 and KH$ 12,000.
The Chinese market was not enlisted on the first-batch of sales of the iPhone 5s, although Chinese smugglers have indicated that by the Friday night, people residing in Beijing will also be able to buy iPhones in the underground market but for a higher price.
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