The iPhone 6S is scheduled for launch on the 25th of September in China, a second wave release. However reports show that smugglers have already begun taking orders for the coveted phone, charging up to $3,300 USD for the device. The South China Morning Post reported that hawkers had already taken the phone to the mainland amid a frenzy of iPhone mania.
Despite a global slowdown in smartphone sales, the new iPhone 6S are attracting a lot of attention, with local tech blogs, news sites and social media packed with commentary on the new model following its initial release.
Yesterday Apple CEO Tim Cook said on stage that the iPhone’s market had grown 75% year over year. During an earnings call in July, the company revealed that revenue had jumped 112% in China, reaching $13.2 billion USD, up from $6.2 billion USD the preceding year.
Despite the company’s positive outlook, they are unlikely to come out of this year’s economic slowdown unscathed. Tim Cook’s 75% iPhone growth figure is down from 87% reported in the company’s Q3 earnings this June.
A drop in Chinese retail consumption has seen a handful of China’s biggest tech companies and smartphone makers lose significant revenue through sales and marketing. Yesterday Alibaba cut revenue predictions as stocks fell to another all time low, while Lenovo cut 10% of its white collar workforce to offset losses.
Chinese smartphone makers including China’s top seller Xiaomi have also been forced to cut sales estimates, extending into emerging markets to offset market saturation back home in China. Taiwan-based HTC was ejected from the Taiwan Top 50 Index this month on the back of poor earnings driven by the global market slowdown.
Apple is now the third largest smartphone vendor in China by revenue behind Xiaomi and Huawei, falling from second earlier this year. Like Apple, Samsumg has seen its market share stumble to fourth as lower-cost options strengthen their foothold.
CEO Tim Cook told CNBC last month that volatility in the Chinese stock market was not a major concern for the company. The company is looking to China, their biggest market for iPhones, for good news this month, hoping the iPhone 6S will help them boost the sales throughout the end of 2015.
Image Credit: Apple