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In Thailand, Smuggled iPhones Go for Up to $1,400

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CrazyExpat

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BANGKOK – IPhone fanatics lined up in their droves across Australia, Singapore and Hong Kong to pick up the latest version of Apple Inc AAPL +0.20%.’s smartphone Friday. But enthusiasm also raged in Thailand – a country where the iPhone 5 won’t go on sale until later this year.

Customers here are flocking to crowded shopping warrens such as Mahboonkrong in downtown Bangkok to place deposits on phones smuggled in from places such as Hong Kong, Singapore and even the United States. One vendor in MBK – as it is known – said his team will try to bring over 100 phones into Thailand, and so far more than 80 people have handed over deposits of 5,000 baht, or $160, per phone.

This contraband comes at a price, however. The an unlocked, top-end 64 gigabyte iPhone 5 will cost 43,000 baht, or $1,387, compared with about $927 in Hong Kong. The cheaper 16GB version goes for 35,000 baht, with the 32GB version selling for 39,000 baht.

For the full story:

http://blogs.wsj.com/searealtime/2012/09/21/in-thailand-smuggled-iphones-go-for-up-to-1400/

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