If you think Apple (NASDAQ:AAPL) products in the U.S. are too expensive, then you definitely shouldn’t go iPad shopping in Argentina. According to Commonwealth Bank of Australia subsidiary CommSec, a 16GB iPad with Retina display and Wi-Fi capability costs $1,094.11 in Argentina, reports The Wall Street Journal.
The same iPad model retails in the U.S. for $499. On the other hand, Malaysia may be the best place in the world for Apple bargain hunters. Consumers in Malaysia can buy Apple’s 16GB iPad for $473.77 — the lowest iPad price found in any country.
CommSec has been tracking the prices of various Apple products in markets around the world since 2007 as a way to keep track of currency values. The price differentials help CommSec to determine if a country’s currency is valued at the appropriate level.
In a completely free market, prices for the same product should be the same in different countries. However, variables such as transportation costs, taxes, and import restrictions can all affect the final price of a product.
U.S. Apple customers who aren’t inclined to travel to Malaysia to save $25 on their next iPad purchase can still save a little money closer to home. Canada has the next cheapest iPad prices in the world after Malaysia. A 16GB iPad in Canada costs $485 before taxes, about $14 less than the iPad’s price in the U.S.
Although Apple’s product prices vary according to country, the Cupertino, California-based company has consistently been able to charge a higher price for its products than many of its competitors due to the power of its brand and its ecosystem of premium content. Here’s how Apple has traded over the past week.
Follow Nathanael on Twitter @ArnoldEtan_WSCS