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Over Dh3,000 markup: Some UAE resellers hike Apple iPhone 16 prices as demand rises

Some sellers are also offering discounts for bulk purchases, encouraging customers to buy two or more phones at once

Published: Fri 13 Sep 2024, 11:44 AM

Updated: Sat 14 Sep 2024, 6:29 PM

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With pre-orders for the iPhone 16 set to open at 4pm on Friday, the excitement has reached new levels. The internet is buzzing with anticipation for Apple's latest release. Social media platforms and classified apps in the UAE are flooded with listings of the new iPhone 16, showcasing high markups.

Ads on social media and popular classified sites are offering the iPhone 16 for delivery on September 20, with prices as much as Dh3,000 higher than the official retail cost. The high demand has driven up these prices, as sellers look to cash in on eager buyers who want to be among the first to own the newest Apple device.

According to sellers on social media, among the most anticipated models is the iPhone 16 Pro Max with 256GB of storage. While its official price on the Apple website is Dh5,099, resellers are listing it for as much as Dh8,000. Other listings for the same model show prices around Dh6,500, reflecting a premium of nearly Dh1,500.

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Similarly, other storage options have seen significant price hikes. The iPhone 16 Pro Max with 512GB of storage, officially priced at Dh5,949, is also being listed for Dh8,000. Across all Pro models, starting at Dh4,299, resellers are adding a markup of at least Dh1,000 for each version.

The iPhone 16 Pro, available in four storage variants—128GB, 256GB, 512GB, and 1TB—has seen its most expensive option, the 1TB model, listed online for Dh8,000, well above the official price of Dh6,399.

Khaleej Times reached out to one of the sellers, who explained that pricing is largely driven by demand. “We are currently charging a premium of Dh1,800 for the iPhone 16 Pro Max 256GB,” the seller said. “However, if demand rises, the prices could go even higher. To secure the current price, we ask buyers to deposit Dh500, with the remaining amount payable upon delivery.”

Some sellers are also offering discounts for bulk purchases, encouraging customers to buy two or more phones at once. Others are creating a sense of urgency, claiming limited stock and urging buyers to act fast before availability runs out.

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