As has often happened before, when Apple released a new iPhone model, the prices of previous versions dropped sharply because consumers waited for the new device to purchase the old model at a more affordable price. However, this time the situation turned out completely differently.
With the release of the iPhone 18 series—including the iPhone 18 Pro and Pro Max models—an unexpected picture is observed in open and online markets. The iPhone 17 model, which previously cost 82,900 Indian Rupees, suddenly increased its starting price by 21 percent on Apple's official website to reach 99,900 Rupees, an increase of 17,000 Rupees.
On e-commerce platforms, 'Sold Out' notices appeared within hours of the launch. To find out the real picture, the article's authors visited large stores and mobile markets in the Delhi-NCR region. The discovered situation raised several questions: stores that claimed to have the iPhone 17 just a day ago soon reported that the item was unavailable.
First, a well-known shopping center in Ghaziabad was visited. There, a seller named Suraj was met in a large multi-brand store. When asked about the availability of the iPhone 17, he confidently replied that it would be available, but at the new price. When asked why the new price was set for an old model, despite the new iPhone 18 not yet being fully delivered to the market, Suraj quickly changed the subject and stated that there were no phones at the moment, but they were accepting pre-orders at the new rates with a promise of delivery in five days.
When asked where the old stock that was in the showroom had gone, he gave the standard answer that the company had taken all the inventory. However, his hesitation suggested that the stock might have been held back (speculation) to artificially create a shortage.
Next, a large electronics store in a well-known shopping center in East Delhi was visited. Acting as a regular buyer, the author inquired about the availability of the iPhone 17. The salesperson smiled and said that the phone could be obtained, but only upon purchasing mandatory extended warranty for one year for 8,500 Rupees. The store manager immediately refuted this, stating that the extended warranty was not mandatory.
The store manager revealed the bitter truth about the market concerning GST invoices: 'There is strong black market trading (hoarding) of the iPhone 17 happening right now. Some large dealers send their people as regular buyers, take the goods, and sell them at inflated prices. Therefore, we issue the phone with a GST invoice only to genuine buyers.' This store turned out to be the only one where the iPhone 17 was sold at the old prices, but even there, the stock ran out quickly.
After visiting the shopping center, the authors headed to the local mobile market in East Delhi, where numerous small and large stalls were located. The same answer echoed from every counter: 'iPhone 17 is here, brother!' Nevertheless, frustrated customers who had been searching for the phone for hours were encountered near the store. One buyer shared his frustration, saying: 'The sellers inside say there is no official stock, but if you pay in cash, this iPhone 17 quietly sells for 95,000 Rupees instead of 82,900 Rupees. This is outright black market trading.'
Usually, older models become cheaper after new ones are released because companies need to clear out remaining old stock. However, the current situation is drastically different. The extremely high prices for the iPhone 18 Pro series and the sharp increase in the official price of the iPhone 17 have caused strange panic in the Indian market.
Retailers and major dealers realized that customers now view the iPhone 17 as the better and more affordable option instead of the iPhone 18. To capitalize on this high demand, a 'shortage' is being created in the market, allowing the old stock to be sold at retail price or even higher on the black market.
It should be noted that Apple has released the iPhone 18 Pro and iPhone 18 Pro Max. The new Pro models have received significant improvements in camera, processor, and artificial intelligence. However, their cost is generating the most discussion. In India, the starting price for the iPhone 18 Pro is set at 164,900 Rupees, and the iPhone 18 Pro Max at 179,900 Rupees. According to Apple, pre-orders for both models will begin on September 12, and sales will start on September 18. Furthermore, the company introduced its first foldable iPhone, the iPhone Duo, with a starting price of 299,900 Rupees.