iPhone 18 Resale Prices Plummet in Hong Kong

Resale prices for Apple's new iPhone 18 series in Hong Kong are showing weaker performance compared to last year's models, signaling softer consumer demand. Analysts at Jefferies noted that the 18 Pro and 18 Pro Max are trading at discounts across various storage options. Specifically, the 256GB 18 Pro Max is the only variant still commanding a notable premium, approximately 8% above Apple's official price. Larger storage models, such as the 2TB version, are selling below the official price.

Jefferies attributes this trend to price increases of $400 and $500 on the new models, which may be perceived as too high relative to their value. Additionally, Apple's transition to lower-cost QLC NAND storage in the 1TB and 2TB versions could make these higher-capacity options less appealing due to potential storage performance limitations.

Delivery lead times for both the 18 Pro and 18 Pro Max have shown fluctuating trends, falling early last week before rebounding. However, analysts caution that this recovery might reflect tighter supply as Apple ramps up production for its DUO device, rather than a surge in demand. For the 18 Pro Max, lead times as of September 27 were longer in Hong Kong and China compared to the previous year. Pre-orders for the DUO device are scheduled to begin on October 16, with potential adoption constraints in China due to its eSIM-only nature and limited dual-eSIM support.