iPhone 5 is being sold for INR 1.15 lakh in Indian Grey Market

India doesn’t feature on the priority list of Apple with respect to iPhone 5, however it seems to be at the top of the list concerning people involved in grey market stuff.

Markets hosted in Mumbai’s Heera Panna Market and Khan Market in Delhi are registering a price of INR 1.15 lakh and above for the iPhone 5, which to be fair is ridiculously high.

The traders are happy, and those who are spending the handsome amount doesn’t seem to complain seeing the iPhone 5 in their hands which is a rare thing to show-off in initial launching phase.

This is every year’s story before the iPhone sees official launch in India. However, never before such a price was asked by the dealers. On internet sites like eBay.in and Olx.in, you can order the iPhone 5 for upwards of Rs 58,000 for a 16GB device. The 32GB version is selling for Rs 94,000 and 64GB for Rs 1.06 lakh.

The new iPhone 5 introduces a SIM size called nano SIM, and most of purchasers after getting the device are having a hard time in using it. They have to cut the SIM to the proper size for the cellular connectivity to work on the phone.

The iPhone 5 supports 4G connectivity, and India is yet to get it. Seeing the drama around the earlier allocation of 3G, I don’t know when will we get it?

Apple hasn’t announced an official launching date for the device, it’s India site lists the device as coming soon. We hope to see the device in India by the upcoming festival of Diwali, possibly in tie-up with Vodfone and Airtel.

Update : iPhone 5 has officially been launched in the country with Aircel on 2nd November.

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