iPhone: When Analysts Leave their Office to Deliver more Reliable Information

Some analysts decided to leave their golden offices from which they usually deliver projections and expectations based on investor meeting organized by companies. So, to better understand the iPhone business, how and who purchase this device, analysts from Piper Jaffray Group decided to stand by Apple Stores to better perform their study.
They noticed that many customers were purchasing 5 iPhone units at once, the maximal amount allowed by Apple. They then concluded that such units will most likely been SIM unlocked and/or feed the grey market. They think that up to 10% of iPhone sales are dedicated to this grey market or to be used with another carrier than AT&T.
This is a quite important number considering the fact that those users will have to update their iPhone with new hacks every time Apple released a firmware update.
They also tried to evaluate how the recent US$200 price cut impacted sales of iPhone, and estimated an increase of 56%! But it could also be linked to the availability of SIM unlocking solutions too.