iPhone 5 makes its debut in HK

New phone model launch sparks off a hive of business activities
As Apple Inc launched its new iPhone 5 model in Hong Kong on Friday, thousands of people jammed the Apple store for the new product, while scalpers scouted for buyers and telecom operators jumped on the bandwagon by soft launching new 4G services.
The new smart phone model is being first launched in the US, UK, Canada, France, Germany, Australia, Hong Kong and Singapore. It will then go on sale in another 22 countries a week later.
The world's major cities are also greeting the launch of the iPhone 5. In Sydney, Singapore and Tokyo, iPhone 5 fans have already waited for between 12 to 18 hours outside the Apple stores or authorized dealer stores to get the touch of the latest smart phone model.
In Hong Kong, buyers had to sign up online with Apple to pick up the new model in the local flagship store at a prearranged time. The first customers in Hong Kong were greeted by staff cheering, clapping, and chanting "iPhone 5! iPhone 5!" and high-fiving them as they were escorted one-by-one through the front door.
The iPhone 5 is thinner and lighter, has a taller screen, faster processor, updated software and can work on faster on "fourth generation" (4G) mobile networks.
Order numbers indicate the iPhone 5 has overcome initial lukewarm reviews. Apple received 2 million orders in the first 24 hours of announcing its release date, more than twice the iPhone 4S number over the same period when that phone was launched a year ago.
Telecommunication industry experts forecasted that the sales of the new iPhone 5 model can reach 50 million sets by the end of this year.
However, not everyone lining up outside Hong Kong's Apple store was an enthusiast. University student Kevin Wong, who waited to buy a black 16 gigabyte iPhone 5 model for HK$ 5,588 ($720), said he was getting one "for the cash." He planned to immediately resell it to one of the numerous grey market retailers who are buying up as many of the new iPhone 5s for resale to visiting mainland buyers. China is one of Apple's fastest growing markets but a release date for the iPhone 5 there has not yet been set.
"Mainland Chinese, who like to shop in Hong Kong due to the absence of sales tax and the strength of the yuan currency, will probably buy it from the resellers "at a higher price - a way higher price," said Wong, who hoped to make a profit of HK$1,000 ($129).
The local second-hand telecommunication shop owners in Hong Kong said that they will pay HK$8,000 to buy the new iPhone 5 models from first-hand buyers and then resell them for between HK$8,500 to HK$12,000 each to other customers.
The local telecommunication shop owners predicted that the iPhone 5 model sales in Hong Kong can reach 15,000 sets on the first day of its debut.
However, other local end-users, who preferred to stay on the sidelines, said the new iPhone 5's functions do not differ much from the iPhone 4, and they were much more expensive than previous models. They added they are not eager to switch their phone network plans to the new 4G model's more expensive network, and plan to shop for cheaper 3G tariff plans.
But local telecommunication network operators like CSL 1010, Smartone, HutchTel Hong Kong and PCCW are all gearing up to offer new 4G network plans based on the new iPhone 5 model.
Smartone Chief Executive Officer Douglas Li said that the company was confident that its latest 4G plan will attract high customer number growth. CSL 1010 envisaged that the new 4G plan will bring double-digit growth in revenue.