iPhone black market sprouts across Asia

Bangkok: The new iPhone looks set to be a huge hit in Asia countries where it goes on sale today, but the sleek smartphone is already in high demand in black markets from Shanghai to Bangkok.

In Thailand, a Southeast Asian hub for pirated goods where Apple Inc's iPhone is not officially for sale, dealers boast they only need a few weeks to smuggle in the trendy phones and "unlock" them for use on local mobile networks.

"I'm taking orders this weekend and you'll get it by the end of July. We can sign a contract guaranteeing you will get it," Toew, a dealer who is offering eight-gigabyte 3G iPhones for 29,000 baht ($860, Dh3160) on the internet, said.

At Bangkok's MBK centre - a treasure trove of pirated DVDs, clothing and luxury goods - shops are advertising hacked iPhones with signs that read: "Good price, we unlock very fast".

Trading iPhones via the internet has become more popular in recent months, with prices for the current iPhone soaring 25-30 per cent due to tight supply and rumours that the 3G iPhone cannot be hacked.

Rise

An old iPhone with eight-gigabytes of memory now costs 22,000-24,500 baht, up from 16,500-18,500. A model with twice the memory fetches 25,000-28,000 baht, up by around 5,000 baht a few months ago.

"I'm an iPhone addict now. I'm going to sell the old one and buy the 3G phone. No matter what the price is, I'll get one," said Tana Tanaraugsachock, a financial executive.