Cupertino, Calif.-based Apple Inc. has not launched its iPhone 5 in Indian market yet, but the popular handset is already doing brisk trade in the country's grey market.

In the grey markets of Khan Market and Heera Panna in Delhi and Mumbai respectively, the Cupertino tech giant's latest flagship smartphone is trading at very high prices.

According to figures compiled and published by Tech2. com website, the 16GB iPhone 5 is selling for around Rs 76,000, while the 32GB version of the smartphone costs Rs 85,000. The top-end model, the 64GB iPhone 5, is available for as much as Rs 100,000.

A trader in Delhi's Khan Market, who was speaking on the condition of anonymity, said he sold some iPhone 5 handsets at an incredible price of Rs 1.35 lakh each a few days ago.

The Cupertino firm has not confirmed any precise date for the launch of the iPhone 5 in India, though swirling rumors suggest that the handset will be officially available in India ahead of the Diwali shopping season. Apple's official website says the company's latest smartphone is "coming soon" in India.

The iPhone 5 boasts Apple-designed powerful A6 chip, a 4-inch retina display, ultrafast wireless technology, and a thinner more lightweight body. Apple sold more than five million units of the smartphone in its first weekend.