Boxes of Apple Inc. iPhone Xs, newly-purchased from shoppers, sit on an unauthorized reseller's table in the Mong Kok district of Hong Kong, China, on Friday, Nov. 3, 2017. It's only Day One, but the gray market trade in Apple's new iPhone is already in full swing in Hong Kong. Photographer: Justin Chin/Bloomberg
Apple Inc investors may be cheering as the iPhone X’s debut propels the stock to all-time highs, but the mood among sellers of the handset in Beijing is decidedly less upbeat.
The grey-market dealers who peddle iPhones outside Apple retail stores and in electronics shops across the Chinese capital say enthusiasm for the device has failed to match the heady levels of previous releases.
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