As soon as the iPhone X sale started on Friday evening, long queues were seen outside Apple stores across the globe. Apple’s shares rose 3 percent on Friday, hitting a record high and giving the world’s most valuable publicly traded company a market capitalization of almost $890 billion. Even in India, people were going crazy to get their hands on the most expensive Apple iPhone ever. However, some of them were left disappointed because of the heavy demand.
Now, people are selling iPhone X on OLX for as high as Rs 150,000 for an unlocked 256GB model. That is more than what Apple is charging (Rs 1,02,000) for the top model. On OLX, which is the leading online classified platform in the country, more than 330 sellers have listed the iPhone X for sale at a premium. These sellers could also be people who bought the iPhone X and are now looking to make a profit by selling it for a price higher than the market rate.
For instance, one seller based out of Aurangabad is selling the iPhone X 256GB for Rs 150,000. The phone has been brought in India and hence the local warranty will be applicable. According to the details available on the website, iPhone X is priced between Rs 115,000 and Rs 150,000. One seller who claims to be an authorised retailer is even selling the iPhone X in both 64GB and 256GB storage capacities for Rs 115,000 and Rs 135,000 respectively.
This isn’t the first time when something like this happening in India. Every time an Apple product is launched, you can see similar listings on online classified sites such as OLX. In India, the iPhone X is priced upwards of Rs 89,900, but the device went out of stock on the day of launch. There are no details available when the next shipment will arrive, leaving consumers no choice but to pay a handsome price for the iPhone X.