iPad 3 glut in UAE sends prices crashing

iPad 3 prices in the UAE is dropping by the hour. And Apple is yet to officially launch the product here.

With intense competition among freelance traders who have stocked up the just-launched iPad 3, it is now a race to offload stocks before the official release by the Apple iStore or other leading electronic stores.

The cost of a 16GB wifi new iPad, which was being pre-booked in the UAE prior to the launch on March 16, for Dh3,500 are now being sold at cost price, matching those markets where Apple officially launched it.

A Groupon deal offers the new wifi-only iPads at Dh2,298 for 16GB, Dh2,398 for 32GB wifi and Dh2,698 for 64GB.

In comparison, the 32GB iPad was more expensive in Singapore and other markets where the 32 and 64GB models were selling for $788 (Dh2,371) and $918 (Dh2,763).

Only the 16 GB model was less expensive selling at $658 (Dh1,980)

Last night, Living Social launched a new deal selling the wifi plus 4G models for Dh3,439 for 16GB and Dh3,879 for 32GB and Dh4,349 for 64gb iPads.

In comparison the prices for similar models at the iStore are Dh2,492, Dh2,883, and Dh3,274 for the 16, 32 and 64GB models