Huawei recently released its flagship model, the Mate 60 Pro, without prior notice. This move led to an overwhelming demand, resulting in shortages in many locations and premiums exceeding a thousand yuan. Apple, in contrast, held its Fall Launch Event on September 13, with the iPhone 15 being the main highlight.
With the debut of the iPhone 15, concerns arose regarding its potential impact on the surging prices of the new Huawei models. However, merchants in Huaqiangbei noted that Huawei’s new model holds advantages in terms of pricing and satellite phone capabilities, predicting that the price “may not drop even a month later.” Some merchants believe that the market can only determine a return to “normal pricing” after the release of the iPhone 15.
On September 11, reporters visited Huawei Mate 60 Pro outlets in Huaqiangbei and found that the stores had no stock available. Sales representatives mentioned being unsure about restocking timelines. The few units of Mate 60 available were expected to be sold out by the afternoon, with a continuous influx of customers keen to get their hands on Huawei’s latest model.
Outside the official Huawei stores, Huaqiangbei retailers revealed that the Mate 60 Pro was being sold at a premium of up to a thousand yuan. While the 512GB version was priced at 6999 yuan on the official website, street prices soared to between 8000 and 8400 yuan, often with more demand than supply.
On August 29, Huawei introduced the Mate 60 Pro smartphone, attracting significant market attention. On September 8, Huawei launched the Mate 60 Pro+ and the foldable Mate X5 models, opening up for pre-orders with a deposit of 1000 yuan. Moments after the pre-ordering started at 10:08 AM, the phones were quickly sold out.
Retailers emphasized the challenge of procuring the Mate 60 Pro. Its price in Huaqiangbei gets determined every day at 10:08 AM, the same time Huawei’s official website opens for pre-orders, with black and teal colors being especially popular. Some merchants recalled that on the day of the Mate 60 Pro’s release, the markup wasn’t too high, with only a slight increase from the official price of 6999 yuan. However, the prices kept increasing subsequently due to the ongoing demand and stock shortages.
Notably, the Huawei Mate 60 Pro’s inflated prices weren’t limited to mainland China. As it had yet to officially launch in Hong Kong, its prices were even more steep, with costs ranging between 9480 and 10,500 Hong Kong dollars for the 12GB RAM and 512GB storage variant.
Mong Kok retailers in Hong Kong mentioned that the consistent markup in prices both locally and internationally ensured that buying the phone for less than 9000 HKD was unlikely. Merchants in Shenzhen’s Huaqiangbei regarded the Hong Kong prices as “reasonable,” noting the higher salaries and rent in Hong Kong, suggesting it might not be economical for Hongkongers to travel to Shenzhen just for a purchase.
A notable feature mentioned unanimously by retailers during discussions was the “satellite phone” capability of Huawei’s new model, which reportedly works even “two floors underground.” Many believe this groundbreaking feature, far superior to anything Apple has introduced, is a key reason for the device’s soaring demand. Furthermore, online testimonials confirmed the satellite phone function’s efficacy, even in remote regions with traditionally weak signals, dubbing the new Huawei model a potential “lifesaver” during critical moments.