This could be a big deal: demand for the iPhone 4 is already outstrippign supply in China, where local carriwer China Unicom received over 200,000 preorders for the device by Saturday.

The iPhone went on sale in China last week, and the local carrier there intends building up supply as fast as possible.

The difference between this and the previous model is the strength of the grey market, the iPhone 3GS went on sale in China last year but sold only 100,000 units in six weeks. It took 28 months to get iPhone 3GS on sale in China, it took just three this time round.

An Apple spokeswoman said more iPhones will be available soon and that customers should check online or with local stores regarding availability.

“As of the second quarter, Apple was the fifth-largest smartphone vendor in China with 7.1% of shipments, according to Beijing research firm Analysys International,” reports Wall Street Journal.

In related news, iPhone sales in South Korea this weekend passed the one million mark.

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