(Yicai Global) Nov. 21 -- China's telecom equipment giant Huawei Technologies Co. has unveiled its "Porsche Design Huawei Mate 10," the luxury edition of its home brand smartphone, on Nov. 15. To the surprise of its fans, it will be sold online within a specific time period and in limited volume each week at the price of CNY8,999 (USD1,356). However, it is expected to be sold out within seconds.
The price of Huawei Mate 10 has already skyrocketed to CNY23,888 in the hands of scalpers, up 165.4 percent, Beijing Youth Daily reported. "It is even harder to get a Porsche design Huawei Mate 10 than a real Porsche car," some netizens joked.
The Porsche design Huawei Mate 10 is out of stock on Huawei's official website. It is only sold in limited volume at 10:08 a.m. every Monday, Wednesday and Friday. However, people can buy it on some third-party e-commerce platforms for a higher price. A smartphone store in Suzhou is selling it for CNY23,888 and guarantees authenticity and shipment on order.
The price of Huawei Mate 10 Pro has also jumped. On the official website, it is priced at CNY4,899, but scalpers sell it for CNY5,499.
Huawei Mate10 series proved to be popular in the market. The retail price of Huawei Mate 10 is CNY3,899, the same as on the Huawei official website. But some retailers say they have no stock of it. It will be in stock in 3 to 15 days provided that a CNY200 deposit is paid, they suggest. However, a prospective buyer has to buy a CNY299 leather phone cover at the same time.
When Huawei introduced Porsche design Huawei Mate 9 last year, its price also skyrocketed. It is not surprising that the Porsche design Huawei Mate10 also enjoys the same degree of popularity, a market observer said, adding one of the reasons is the limited supply by vendors. The limited supply allows the scalpers to raise its price.