BackSociety » Tech » Saigon's First Apple iPhone X Sold at Record Price of VND68m

Saigon's First Apple iPhone X Sold at Record Price of VND68m

Apple fans in Vietnam might have to shell out dozens of million of dong to get their hands on a brand-new iPhone X.

Although many tech critics have dubbed Apple's latest creation "the most breakable and most expensive to repair" smartphone, it's apparently selling like hot cakes all over the world, and Vietnam is not an exception. 

As Zing reports, Saigon's first-ever iPhone X (256GB) was sold on the launch day for a record price of VND68 million (US$2,994). The suggested price for the 64GB version was VND58 million, but stores were out of stock.

On November 3, tech giant Apple launched the much-anticipated iPhone X at US$999 each (VND22.7 million). However, Apple enthusiasts in Vietnam might have to fork out much more if they want to own one before the year is over, reports VietnamNet.

The price of the phone on the local market is driven up due to its unavailability in Vietnam through official channels. The Gioi Di Dong, the leading mobile phone retailer in the country, has returned deposits to its customers due to uncertainties in securing supplies of the iPhone X within the year.

Because of the instability in both supply and demand, many iPhone retailers have shared that selling iPhone X is like dealing stocks or cryptocurrencies. At the time of writing, the price of the elusive iPhone X is around VND31 million, reports Zing.

Video via YouTube channel Thế Giới Di Động.

Given this situation, Vietnamese dealers have resorted to procuring their supplies from Apple Authorized Resellers (AARs) overseas, most commonly in Singapore, where the company's only Southeast Asian flagship store is located.

The 64GB version is priced at SG$1,648, or VND27.5 million, and the 256GB version is priced at SG$1,888, or VND31.5 million. Currently, local private retailers have set price levels of VND30-40 and VND35-50 million, respectively, for the two versions.

One of the reasons why the phone's price has ballooned so much in Vietnam is because dealers have to pay people to queue at AARs overseas, as each customer is allowed to purchase only two iPhones at a time. An iPhone dealer told Tuoi Tre that he had hired people to queue for around SG$200, or US$147, each.

Vietnamese buyers were spotted among thousands queuing outside the Apple Store on Singapore’s Orchard Road the night before the launch, the newspaper reports. Some had even been there since the week before.

According to Tuoi Tre, a 2016 study by the World Bank revealed that the money spent on an iPhone X would be equivalent to five months’ worth of household expenditure in Vietnam, where the monthly minimum wage is merely VND3.75 million.

[Photo via Nghe Nhin Vietnam]

Related Articles:

- Vietnam Has the Fastest-Growing Ultra-Rich Population in the World

- A Rich Guy in Thai Nguyen Dropped $135,000 on a Lucky Phone Number

- Ready to Trade in Your iPhone for a Bphone?

Related Articles

in Tech

$189m Plan to Give 300,000 HCMC Students Tablets Draws Criticism

Last week the HCMC Department of Education proposed a plan to equip 300,000 primary students with tablets for the coming school year, reports Thanh Nien. With a pricetag of VND3 million – VND 5 m...

in Tech

'Flappy Bird' Creator To Release New Game Tomorrow

Well, Nguyen Ha Dong, the Vietnamese app developer who at one point was pulling in $55,000 per day, is officially back in the spotlight. After releasing a new version of ‘Flappy Bird’ earlier this mon...

in Tech

'Thirsty' Concrete Drinks Rainwater, Eliminates Flooding

Concrete isn't exactly a sexy topic. Even though we drive on it and build things with it, the average person seldom gives the gray stuff a second thought.

in Tech

3 Vietnamese Make “World's Most Influential Scientific Minds” List

3 Vietnamese scientists: Dam Thanh Son, Nguyen Son Binh and Nguyen Xuan Hung, have made Thomson Reuters’ list of the World’s Most Influential Scientific Minds.

in Tech

40 Years Later, Vietnam Begins Identifying Its War Dead

Martyr cemeteries are a common occurrence across Vietnam. In countless communes in every province, modest gravestones mark the resting places of Vietnam's fallen soldiers in neat, orderly rows. T...

in Tech

42m Vietnamese Use Facebook Daily, Among Highest Rates in Southeast Asia

Amongst its many existing users, companies and government entities are increasingly turning to the platform.

Partner Content

in Partner Content

At Picniq, a Series of Sunset Soirées for Kindred Music Enthusiasts

Picniq, a new series of monthly electronic music events, has become a musical banquet rarely seen amid Saigon. This is where one can treat their eyes to the city’s most breathtaking sunsets while givi...