Apple 3G iPhone brightens up grey market

The launch of Apple iPhone by Bharti Airtel and Vodafone Essar seems to have revived the dwindling sales of the gizmo in grey markets.

The reason: the price tag announced by the two GSM giants is too high and all those who had been waiting to buy it officially, are now rushing to the grey markets to get the 16GB iPhone for as low as Rs 20,000-Rs 22,000.

“Sales had dipped after it was announced in May that Airtel and Vodafone will bring iPhone to India. Many postponed buying the phone from us. However, since the prices announced are almost 50-60% more than at what we sell, we are getting back business,” said a dealer at Heera Panna, Mumbai’s best known grey market for all high-end phones.