Will you pay Rs 1.2 lakh to own an iPhone 5

Will You Pay Rs 1.2 Lakh To Own An Iphone 5 Within the Days of its Us Release?

Many Apple aficionados in India are willing to shell out as much as Rs 1.21 lakh to own the iPhone 5 within days of its initial release in the US and seven other countries.

DNA reports that four Ahmedabad citizens paid Rs 1 lakh in advance for the phone and will pay an additional Rs 21,000 at the time of delivery.

Bharat Bhagnani in a Forbes blog says the "the grey market is throbbing with 'pre-orders' for iPhone 5, with prices skyrocketing up to almost Rs 80,000 to Rs 1,00,000 for delivery by September end." Bhagnani spoke to grey market dealers in Delhi and Mumbai, who were also willing to offer up to Rs 26,000 for a used iPhone 4S depending on its condition.

But the early iPhone 5 birds in India may encounter a technical hitch. The iPhone 5 comes with a nano-SIM tray and Indian mobile service providers do not currently offer nano-SIMs.

Also unlike micro-SIMs that are used in the iPhone 4S, they cannot be easily cut from regular SIMs using a SIM cutter.

This could mean that the iPhone 5s that eager Indian buyers with deep pockets lap up at premium prices may be as functional as the iPod Touch, though the DNA report quotes an unnamed official from a telecom operator in Gujarat saying that they have placed orders for nano-SIMs.