Chinese E-retailer Taobao starts accepting pre-orders for iPhone 5: Reuters

Last month at WWDC Apple showcased a number of new products, but the one thing it did not unveil was the iPhone 5. That said, after the October unveil of the iPhone 4S, the no show of an iPhone 5 was not unexpected. Reuters is reporting that Chinese retailers are also gearing up for an iPhone 5 release later this year and in fact one e-retailer, Taobao is already taking pre-orders for the iPhone 5.
Taobao is asking for a deposit of 1,000 yuan or $160 for the iPhone 5, however another reseller also based out of china, Dahai99888, is asking for the full payment at a quite obnoxious 6,999 yuan or $1,100. Taoboa told Reuters that it plans to purchase the iPhone 5 from either Hong Kong or the US itself, though it refused to confirm final shipping dates, which of course is because the product has not been unveiled yet.