‘Crazy’ demand as Apple iPad arrives in Dubai
Price of the iPad tablets start at AED 4,500 ($1,225.26) for the 16GB version
Apple’s new iPad tablet player went on sale in the UAE on Tuesday afternoon and one Dubai-based retailer has already sold out and said demand has been ‘crazy’.ALshop.com, which is an online shopping portal and part of Meast E-Commerce Trading in Dubai, said they took delivery of 35 units on Tuesday afternoon and all units sold out straight away.Sheriff Rizwan, CEO of ALshop.com, said the company had more than doubled their daily order of units and was expecting to take delivery of more units at midnight Wednesday and midnight on Thursday and all were already sold out.The price of the tablets start at AED4,500 ($1,225.26) for the 16GB version, with the 32GB and 64GB versions costing AED5,250 ($1,429.47) and AED6,000 ($1,633.68), respectively.
The UAE price is higher than in the US but Rizman said this was due to the fact that the company had to cover delivery costs from the US to Dubai and UAE customs charges.
“But everyone is ready to pay it to get their hands on this year’s hottest product,” said Rizwan.
He described demand as “crazy” and “berserk” and said their website had received 3,000 hits in the last 24 hours as word spread that the iPads had arrived in Dubai.
In the US, Apple sold more than 300,000 units in on the first day the tablets went on sale last week, a strong showing that roughly matched Wall Street forecasts and mirrored the iPhone's debut in 2007.
Following the launch, JPMorgan raised its price target on Apple stock to $305 from $240; Kaufman Brothers increased it to $295 from $253; and Thomas Weisel Partners lifted its price target to $280 from $270. Susquehanna raised its price target to $275 from $260, while Barclays kept its target unchanged at $285.
BMO Capital Markets analyst Keith Bachman called the first-day US sales figure "reasonable, but not a blowout number." He said the iPhone sold at a similar pace to the iPad in the early going. iPhone sales passed the 1 million mark after 74 days in 2007.