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Russians' iPhone Buying Spree in Hong Kong
Russians flock to Hong Kong to buy iPhones due to sanctions in Russia, reselling them for substantial profits despite paying above retail prices.
English
United States
ChinaRussia Ukraine WarSanctionsInternational TradeIndo PacificProfitSmartphonesBlack Market
AppleCnnMtsM.video-EldoradoAvito
Nick AlexenkovVladimir Putin
- Why are Russians buying iPhones in Hong Kong?
- Russians are buying iPhones in Hong Kong because sanctions and import restrictions have made them scarce and expensive in Russia.
- What drives this demand despite the high costs?
- Despite the high prices and risks, the demand for iPhones in Russia remains strong, especially for the newer models and popular colors, driving this trend.
- What makes Hong Kong an appealing location for this activity?
- The lack of sales tax in Hong Kong makes it an attractive location for this type of parallel importing, offering cost advantages for buyers.
- What interesting strategies or observations are there regarding the transactions?
- Some Russians even use children who speak English to negotiate better deals with sellers in Hong Kong.
- How much more are they willing to pay for iPhones in Hong Kong compared to the retail price?
- They are willing to pay significantly more than the retail price in Hong Kong to resell them at a profit in Russia, even accounting for the added cost of travel and acquisition.