The Apple iPhone can be bought in China for 8800 yuan ($1170) about twice what it costs in the US even though the phone has only been released in the US.

Thanks to hackers who have unlocked the phone it can be bought in Beijing, Shanghai, Shenzhen and Guangzhou…but…it doesn't work right.

Users can make calls and text messages but not receive calls.

"Gee, how do you like my new iPhone caller?" 

China is expected to have 520 million cell phone subscribers by the end of this year using phones that work both ways.

Dian Nao Bao says he gets about 30 buyers and potential buyers each day for the iPhone, unconcerned about the price or the functionality. They are there to buy themselves a 'cool factor'.

"The Beijing Administration for Industry and Commerce recently seized several iPhones from the Zhongguancun electronics market."

When they were called nobody answered….probably because they had given out their iPhone number.

Would you buy something that doesn't work just to be cool?

Next up…the New iPod Nano w/ Video.

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