Apple iPad heads HK with cheapest retail price

July 22, 2010 8:55 PM EDT

Apple's iconic iPad is heading Hong Kong on Friday, and it's set to see a shopping binge as it offers the world's cheapest retail price for the product.

With a starting price of HK$3,888, all models of iPad will be available through Apple's retail stores and Apple Authorized Resellers in Hong Kong, the iPhone and iPad maker said on Monday.

The prices of Wi-Fi enabled iPad are HK$3888, HK$4688 and HK$5488 respectively for iPads of 16GB, 32GB and 64GB. The 3G only model is priced at HK$4888, HK$5688 and HK$ 6488 for iPads of 16GB, 32GB and 64GB.

Industry research firm iSuppli on Wednesday lifted its annual forecast for Apple Inc's (NYSE:APPL, NASDAQ:APPL) iPad to 12.9 million, nearly doubling its previous forecast issued April 2nd of 7.1 million units.

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"The iPad is shaping up to be the 'Tickle Me Elmo' of the 2010 holiday season, with product demand expected to vastly exceed available supply," said Rhoda Alexander, director of monitor research for iSuppli. "Apple has hiked its iPad manufacturing goals to suppliers across Asia," she added,

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Besides Hong Kong, the device will be shipped to eight other nations, including Austria, Belgium, Ireland, Luxembourg, Mexico, Netherlands, New Zealand and Singapore.

It's currently available in Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland, the UK and the US.

Apple said it will roll out the device to many more countries later this year, without giving specific date or pricing.

Apple reported $15.7 billion in sales and 3.25 billion in profit during the fiscal third quarter, mainly lifted by record Mac sales and the iPad's strong debut.

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