The Daily Mail in the UK is reporting a huge drop in prices of smuggled iPhone in China and saying it's a flop.

Or may be users are waiting for Apple to launch the iPhone in China? Per Macrumors, the rumored release date is October 10th...

Of perhaps there is too much supply, and not enough demand?

Is the iPhone 6 a flop? Smugglers forced to slash prices by more than HALF after supply outweighs demand in China - Daily Mail

Street Price Beijing:$1,060 and $1,436
Initial Street Price:  $1,960 and $2,450
Retailers Price: $649 and  $499

Labels: iphone