$370,000 Worth of iPhone X Devices Get Stolen Before Launch

Ellie Kennedy November 03, 2017
$370,000 Worth of iPhone X Devices Get Stolen Before Launch

Before Apple Inc.’s new iPhone X even becomes available in stores on Friday, a number of the device has already been stolen in San Francisco.

Several outlets reported that about 313 iPhone X units were taken by three men from a truck owned by US-based package delivery company UPS outside an Apple Store in San Francisco earlier this afternoon.

The tech giant’s latest flagship which retails at $999 with higher spec models going up to $1,150 per piece in the US puts the value of the stolen merchandise to be more than $370,000. So far, the whereabouts of the thieves are unknown.

UPS and Apple are currently working with law enforcements investigating the matter.

Perhaps one upside of the incident is that iPhone X has an international mobile equipment identity (IMEI) serial number attached to it. The IMEI code can be used by Apple to track down the location of the stolen phones.

iphone-x-stolen

Nonetheless, a person familiar with the matter said that iPhone X buyers planning to get their pre-ordered devices at the store in San Francisco will still be able to pick up their iPhones on time despite of what happened.

This type of thing was not something new as stealing iPhones has been going on for some time now, but with Apple’s Find My Phone app and remote lockout feature, the number of stolen devices has lessened.

It is also unlikely the incident will badly affect Apple’s profits, with the smartphone maker expecting to generate $84 billion in sales this quarter with its new iPhone X. The company opened pre-orders on October 27 and it has described the demand was off the charts.

The iPhone X, which Apple called as the future of the smartphone and was first revealed in September, went on general sale this day in more than 50 markets, including the US, China and the UK.

Apple’s shares were up by 3.9 percent to $174.70 in pre-market trade on Friday, following its launch of the iPhone X. If it opens the session at this level, the stock is likely to trade at an all-time high


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Ellie Kennedy

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