Apple’s iPhones, apart from what they bring to the table, have been known for their premium price tags, and that did not change with the arrival of the iPhone 5. As per the latest figures that we have obtained from our sources in Mumbai's grey market, the 16GB variant of the iPhone 5 can now be purchased for Rs 57,000, the 32GB one for Rs 68,500, and the 64GB version for Rs 78,000. Our sources in the grey market have also tipped us that the prices are set to drop further, and possibly on a regular basis, until the coveted handset has made its official Indian debut. 


iPhone 5 prices drop further

When we first got in touch with dealers on September 25, the price tag of the three variants of the iPhone baffled us. At the time, 16GB variant of the iPhone 5 was being sold at Rs 76,000, while the 32GB model was priced at Rs 85,000, and the 64GB edition at a whopping Rs 1 lakh. While the prices seemed way out of the reach of the average Joe, just a couple of days later, they dipped. This time, the 16GB variant was priced at Rs 62,500, the 32GB one at Rs 77,500 and the 64GB variant dropped to Rs 92,500. Prices dropped even further, a couple of days later taking the price of the 64GB variant of the iPhone 5 down to Rs 80,000, a sizeable Rs 20,000 less than what it was only days before. 

We decided to investigate this to see what was possibly triggering such a steady fall in the prices of the iPhone 5. Quashing all bits on the phone being too expensive to buy, we found that fans went for this model irrespective of the price tag. We did meet someone who bought the iPhone 5 while it was being sold for a lakh, and said he would still buy it if it were priced 20% higher. 

Our sources at the grey market revealed that a lot of enthusiasts had pre-booked their units and were ready to pick a handset, price be damned. The storekeepers admitted that there is quite a demand for the iPhone 5, but no more than it was for its predecessors. A source within Apple’s official retail chain mentioned that the Apple iPhone 5 would most likely be here by the end of this month. 

In the end, here's a quick look at the specifications of the iPhone 5:

  • 4-inch, 326ppi Retina display at 1136 x 640 pixels
  • GPS
  • Bluetooth
  • 8 megapixel camera with 1080p HD recording, 720p front-facing camera
  • 16GB, 32GB and 64GB versions

In the meanwhile, watch this space to stay updated on the latest iPhone 5 prices in India. Click here for all the buzz on the iPhone 5. 

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