I Have Heard Of Ticket Touts,

people that buy tickets to say a football game or a pop group performance,

and sell them on at a profit, but I had never heard of the term 'scalpers' it is in this context used to describe people that had bought a iPhone 14 and were going to make a killing selling it at an inflated price, but that financial model has come back to bite them where the sun does not shine!

in the past buying and then reselling a iPhone was very profitable, but no one expected Apple to have such a well-organized launch, with delivery times exceeding consumer expectations, also there was the below-average demand for the handheld in China, with many of those fearing a recession postponing the switch from a previous generation, and finally, there was the fact that the smartphone market has become even more competitive than before, and here above is one photograph of desperate scalpers squatting at the gate of Tianhuan in the Chinese city of Guangzhou which recently went viral on social media, attracting even more attention to their plight, according to local sources, they are selling new iPhone 14 phones at prices 500 to 1,000 yuan lower than official vendors, psst! anyone want to buy a new cheap iPhone!