Stolen iPhones Surface In Russia: Rumor

MOSCOW (TheStreet) -- Apple(AAPL) iPhones stolen in a massive heist in Belgium earlier this month may have surfaced in Russia, according to news reports.

In mid-November thieves made off with up to 4,000 iPhones from a warehouse in Willebroek, near Antwerp, according to Belgian newspaper De Standaard, which said that the stolen phones are worth up to $3 million. Fortune now reports that the smartphones appear to have turned up in Russia.

Citing Russian technology blog iPhone.ru, the report says that unlocked iPhones with Belgian serial numbers are being offered to wholesalers in Moscow's Gorbushka electronics marketplace. The owner of a Gorbushka store, speaking on condition of anonymity, told iPhone.ru that the phones have already started to appear in shops, but that some vendors are unwilling to sell them.

As Interpol searches for the hot smartphones, police may force service providers to turn off the devices, says iPhone.ru. Dubbed "Europeans", the phones are nonetheless being offered to storekeepers in batches of 100.

Apple's iPhone made its official debut in Russia last year, but the blogosphere has been rife with reports that Russian consumers have balked at the cost of the devices. For example, last week The Moscow Times reported that sales of the iPhone 3GS have been delayed while mobile operators try to negotiate a lower price with Apple.

Apple, which competes with Research In Motion(RIMM) , Nokia(NOK) and Dell(DELL), recently launched the iPhone in China. Clearly keen to tap into tech-savvy overseas markets, Apple made the iPhone available in Japan last year, and is also targeting the South Korean market.