iPhone 4S big hit in Hong Kong’s grey market | Inquirer Technology: "HONG KONG – Apple’s iPhone 4S was on sale on Hong Kong’s grey market at the weekend, attracting hundreds of fans paying up to six times official prices to get their hands on the latest model.
The smartphone, released in seven countries on Friday, was not yet officially for sale in the southern Chinese city but dealers had imported them, mainly from Australia and Japan, for resale to local customers.
The phones are retailing for between HK$10,000 and HK$12,000 ($1,300-$1,500) on the grey market. Depending on their memory capacity they are priced between $199 and $399 in the United States with a two-year contract.
“I have sold about 100 iPhone 4S since yesterday,” dealer Ma Hui of Chu Lok Telecom in the bustling shopping district of Mongkok said Sunday.
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