Times are tough out there, even for iPhone 14 scalpers. Chinese iPhone 14 buyers are now struggling to recover their investments having to sell the cellular devices for less than the market suggested retail price.
Scalpers have always played a part in the retail industry whether shoppers like it or not. They’re often the first to scoop up whatever’s available for the latest tech gadgets. However, this lifestyle does have its risks, which many scalpers in China have recently figured out.
Many looking to make a profit on the brand new iPhone 14 smartphones on the street aren’t in luck, having to sell the electronics for less than the official price in order to regain some of the money they lost. Groups of iPhone 14 scalpers sitting on the pavement with stacks of the smartphones have made their way to Chinese social media with people pondering what went wrong.
A combination of factors is really to blame. Even though scalpers rushed to acquire as many iPhones as they could afford on launch day, the aura surrounding the launch was different from previous iPhone drops.
Apple, for once, actually had a well-organized launch, with delivery times being rather reasonable for the new phone. Plus, demand was lower than in previous launches due to a potential recession looming over China and the rest of the world. Also, the smartphone market is only becoming more competitive as time moves forward, with fewer people turning to Apple for their latest devices.
Scalpers have been forced to sell their iPhone 14 purchases for as much as $140 less than official vendors. That’s a pretty good discount considering the newest phones often come with a price tag of over $1,000 depending on the model. It really is all about supply and demand and this time, scalpers are getting a taste of their own recipe.