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Chinese 'Gray Market' for iPhone 6 Goes Boom, Bust

Stories of people snapping up multiple units of the new iPhone 6 and smuggling them to China where they are sold for huge profits have circulated ever since a video showed people camped out in front of an Apple store in New York days before the phones went on sale. Because Apple has yet to set a launch date for the new iPhone in China, the phones initially fetched up to $1,500 on the gray market there, according to the Quartz website. Time magazine said the phones could be worth...

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