Apple's Vision Pro Mixed Reality Headsets Face Soaring Prices in China's Grey Market
As Apple prepares for the global launch of its highly-anticipated Vision Pro mixed reality headsets, a peculiar trend is emerging in China. Tech enthusiasts in the country, eager to get their hands on this cutting-edge gadget, are encountering a challenge – a thriving grey market where prices are skyrocketing.
Customers Paying Double the Original Price
The Vision Pro has created a frenzy among buyers in China, leading resellers to take advantage of the situation by doubling the asking price. Reports indicate that eager customers are willing to pay twice the official rate to secure this high-tech device. The original price range of $3,499 to $3,899, depending on the model, has been dwarfed by the prices in the grey market.
The Revival of the Daigou Market
This trend is not entirely new. The practice, known as Daigou, involves agents traveling overseas to purchase luxury items, which are then sold back home at marked-up prices. While the pandemic had dampened this market, the easing of travel restrictions has seen a resurgence. With Apple's new product launch, Daigou sellers are once again active, promising deliveries from the U.S. to China.
Apple's Potential Game-Changer in the Mixed Reality Sector
The Vision Pro is expected to make a significant impact in the mixed reality sector, an area where companies like Meta and Pico have previously ventured with limited success. Apple's entry is seen as a game-changer that could potentially revitalize the market. Industry experts believe that this could be the turning point for VR/AR technologies, projecting a substantial growth in headset shipments this year.
Shifting Dynamics in the Industry
However, the industry also faces its challenges. For instance, Pico, a major VR brand, recently scaled back operations due to lower-than-expected sales. But with Apple stepping into the arena, the dynamics might just shift in favor of augmented and virtual reality technologies.
Diversifying Revenue Streams for Apple
For Apple, this venture goes beyond adding another product to its lineup; it is about diversifying revenue streams. With the iPhone being a significant revenue generator, the Vision Pro offers a new avenue, particularly in tech-hungry markets like China.
