Reported 14 days ago
As the iPhone 16 debuted on September 20, 2024, many Russians flew to Hong Kong to purchase the sought-after device, offering up to 12% above retail prices to locals due to a significant shortage and inflated costs back home. The ongoing sanctions and the halt of Apple sales in Russia, following the country's invasion of Ukraine, have led to soaring prices and limited availability for iPhones. Enterprising Russian buyers like Nick Alexenkov are capitalizing on this situation, expecting to resell their purchases for up to 25% profit despite paying premium prices in Hong Kong.
Source: YAHOO