Right, the video above is a report from Hong Kong, and is Cantonese, so let us rephrase what’s being reported. Well apparently AT&T, Rogers, and Vodafone are selling iPhone 4S unlocked straight out of the box, which is different from the case of the original iPhone 4 that came locked last time.

The first batch of iPhone 4S that arrived on Hong Kong is fresh from Australia, and they’re already selling like hot cakes in the open market. A woman has just bought two unit of iPhone 4S at a staggering price of HKD 23,600, which is about MYR 9,525 or USD 3,034 if you’re from the states.  That’s about USD 1,500 for each unit!

Also, a person from mainland China has just paid HKD 860,000 for 82 units of iPhone 4S. Suddenly, I’m thinking that these retailers are actually making more profit out of the iPhone 4S compared to Apple.

Now here’s a funny fact. She knows of the staggering price, but she thinks it’s worth it because the 4S is much faster than the previous model and comes with more feature. I’ll bet that she’ll cry in disappointment when she realizes that Siri can’t understand her terribly broken English. What’s more, she’s calling the phone the iPhone 4GS instead of the iPhone 4S, which just proves that the common crowd is so clueless of what they’re buying.

When the video was recorded, the price of the iPhone 4S goes like this. A 16GB unit is priced at HKD 10,800 (MYR 4,359), while a 32GB unit will cost you HKD 12,300 (MYR 4,964), and the 64GB will cost you HKD 13,800 (MYR 5,570).

According to the retailers, in average there’s a profit margin of HKD 4,000 (MYR 1,600) for each unit of iPhone 4S that they sold. Another dealer said that he sold 250 units in less than an hour, which is about HKD 1,000,000 (MYR 128,577) profit in an hour! I guess I’m in the wrong field. The retailers mentioned that more units are coming in from Canada this Monday.

So yes, the iPhone is serious business!