Blog > With iPhone 6 Debut, iPhone Unlockers Rake in Big Business

With iPhone 6 Debut, iPhone Unlockers Rake in Big Business

iPhones being unlocked in record numbers amid iPhone 6 consumer frenzy as consumers trade in older iPhones

Demand is sky high for Apple’s (NASDAQ: AAPL) iPhone 6 released today, considered the most substantial upgrade and redesign of Apple's flagship phone for several years- and third party unlockers are reveling.

Third party unlockers are amassing record profits in a lucrative industry that is shrouded in mystery and conducted in an underground virtual bazaar and hidden underworld.

“We are unlocking on average 2,000 iPhones a day this month- a 2,000% increase from a typical average of 100 a day- with a record 3,700 iPhone unlocks performed just the day before the launch of the iPhone 6,” says Troy Alvarez, Co-Founder of iPhone Unlock Guys, a Los Angeles-based iPhone and mobile phone unlock and jailbreak company.

“The level of interest in the iPhone 6 is massive. We haven’t seen anything quite like this since the original iPhone came out back in 2007.”

While the size of the mobile phone unlock industry is hard to gauge due to its long time secrecy and grey market status, especially in the U.S., Troy estimates it to be upwards of 2 Billion annually.

Customers need to unlock their phones with third party unlockers for a variety of reasons- travel overseas and use of local carrier SIM cards, cutting out exorbitant carrier roaming fees; or switching to another carrier or pay as you go plan.

Unlocked phones can be used internationally by inserting any compatible SIM card, and command greater resale value.

Many consumers are taking advantage of trade-in deals with carriers, Apple, and large electronics trade-in dealers like Gazelle, uSell, and iCracked.Others looking to get the most cash for their old devices are selling them on Craigslist and eBay.

Gazelle for example, is offering up to $325 for an unlocked 64 GB iPhone 5S in mint condition.

The most popular unlocks are AT&T iPhone unlocks and the newly introduced iCloud bypass unlocks, which remove iCloud locks on iOS 7 devices including iPhones, iPads, and iPod Touch models.

Mobile phone unlocking has long been a grey area legally in the U.S., with the Library of Congress banning unlocks after Jan.26, 2013 after refusing to grant a DMCA exemption.

Mobile phone unlocking is now completely legal, after President Obama signed into law the Unlocking Consumer Choice and Wireless Competition Act in July, allowing consumers to unlock their devices and allowing bulk unlocks of devices.

With today’s release of the iPhone 6, the excitement in the unlock community is palpable, and Troy expects even more business in the months ahead as consumers unlock their new iPhone 6.

“It’s like Thanksgiving, Christmas, and New Years rolled into one.”