Chinese resellers who bought up the first batches of the iPhone Duo hoping for high profits have run into losses. Prices for the smartphones on the secondary market began falling quickly after sales started.
Sales of the iPhone Duo began about two weeks ago. Resellers had expected to cash in on the initial shortage, as happened with some flagship models of previous generations, but demand turned out to be lower than expected.
According to sellers in China, interest in the device has declined, partly because of problems with the hinge and insufficiently refined software. One seller at the Yigao Digital City shopping centre in Hangzhou said that practically all iPhone Duo resellers are now making a loss. Some have lost tens or even hundreds of thousands of yuan on their stock.
The situation was complicated by the rapid spread of information about the smartphone on social media and in specialist reviews. Buyers were able to assess the device quickly, while supply on the market grew faster than expected. As a result, opportunities for a significant mark-up have all but disappeared.
