iPhone 17 Pro Max costs $300 more than official price

The 256GB silver, for instance, costs VND46 million (US$1,744), or VND8 million (US$304) higher than its official price.

Luu Van of Thanh Liet Ward in Hanoi was taken aback to find the price so high when he sought to buy one for his wife’s birthday. "Big retail chains like The Gioi Di Dong, FPT Shop and CellPhoneS are out of stock, with new shipments [only] expected in early November," he said.

A recent VnExpress survey found that the silver and orange 17 Pro Max models are sold out at most major dealers. Some stores have the green model, but mostly with variants with high storage capacities like 512GB, 1TB and 2TB. At smaller retailers, the 256GB silver model costs VND45-46 million and the orange model, VND42-43 million, and the green model is priced at VND40-41 million.

Two people holding three color variants of the iPhone 17 Pro Max. Photo by VnExpress/Quang Dong

Le Hieu, the owner of an Apple device store in Hanoi, said iPhones are seeing unprecedented price increases in Vietnam. In the first week after its launch on Sept. 19, the silver was marked up by VND12-15 million, double the usual hike. Prices have only slightly decreased following a surge in gray-market imports from the U.S. and Singapore.

Several retail chains said the high demand is partly due to Vietnam being one of the first countries to receive shipments this year. Besides, the major design changes in the 17 series have prompted many users to upgrade from older models.

A spokesperson for a major retail chain said last year Vietnam received around 120,000 units of the 16 series in the initial shipment, but this year got only 40,000. Meanwhile, pre-orders were nearly 200,000 units, with deliveries only expected to be completed by the end of October.

Hoang Tuan, an iPhone retailer on Hue Street in Hanoi, predicted that the prices for the 17 Pro and 17 Pro Max would return to the official listed prices by the end of October or early November.

Less popular models such as the green could even be sold at a discount after about a month, he said. "After the initial shortage, Apple will implement price adjustments to boost sales," a spokesperson for another major retail chain said.

The Pro and Pro Max have a larger camera module and switched from titanium to aluminum this year.

On launch day the 256GB orange model sold out within minutes followed by the silver variant, while the green model attracted less attention.