Highly Anticipated iPhone 15: Expected Price and Market Demand in Lebanon

2023-09-15 09:10:21
Source: An-Nahar As soon as Apple launched its latest anticipated releases and new products from the iPhone 15 and its smart watches, its price became the talk of the hour among those interested. As is usual, millions of people wait for Apple products to be available in the market and flock to them before they are available in stores. In countries, people are queuing to submit a request to reserve phones for themselves before they are available in the market (pre-order). But in Lebanon, what will the expected price of the “iPhone 15” be? Speaking to An-Nahar, an employee at one of the most important stores selling mobile devices expects that the “iPhone 15” phone will become available in Lebanese markets starting on the 23rd of this month, and its price may reach between 1999 and 2000 dollars. It should be noted that this price is the price of the “iPhone 15 Pro” with a capacity of 1 TB, i.e. the largest capacity, as the prices of this device vary according to the capacities (which vary between 128, 256, 512 GB, and 1 TB), and the features if the “iPhone 15” “Only, “Pro”, “Pro Max” or “Plus”. According to the employee, the price of this phone in the country of origin, i.e. the United States of America, is $1,499, in addition to the customs tax, which is equal to about $400, for entering Lebanon. An importer of Apple products explained to An-Nahar that the reason the price of iPhones usually rises upon their launch is not due to customs. When launching its new products annually in September, Apple prepares its product through pre-order through its website, to seek feedback on the product before putting it on the market, and people order and reserve it here. Then, some merchants, in agreement with a large number of individuals, order the device online, with the individuals giving the devices to the merchant when they receive them. These individuals charge a sum of money for this service. Thus, the merchant sells the latest iPhone at the price he wants, until it is released in the market. The merchant has paid more for the device than its actual price to obtain it, and thus the issue becomes a matter of supply and demand due to the scarcity of this commodity in the markets. The matter is not limited to individuals who flock to this “rare” commodity, but also includes other merchants who flock to competitive prices, and those who pay a higher price to obtain the device. Thus, the price of the new iPhone in Lebanon before it is put on the market will reach more than $2,000, according to what the importer says. When the customer comes to buy it, he finds the highest prices he can get, in addition to the customs cost for entering Lebanon. Therefore, we are faced with a “rare” commodity in the market in exchange for a large demand for it due to people’s competition and those who want to carry the latest device from “Apple” before anyone else. As for the customs rate on electronic devices, it has not changed in Lebanon, according to the importer, and it remains the same as it was before the crisis, but what differs is the scarcity of their availability in the market, which raises their price, not customs. In the second phase, about two months after launching its product in September, Apple launches the pre-order service again so that the markets are not filled with its new product. This phase lasts from month 9, i.e. the month of launching any new product of the company, until month 12. Starting from the first month of the year, Apple launches its new product on the market and it returns to its normal price.
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