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Technology Stocks : Gateway (GTW) -- Ignore unavailable to you. Want to Upgrade?

To: kahunabear who wrote (6865)	11/5/1998 11:19:00 AM
From: Kip518	Read Replies (1) \| Respond to of 8002

Yourware -- starting a trend? -- easily imitated. Apple offers $29.99 a month financing for iMac Reuters Story - November 05, 1998 08:48 CUPERTINO, Calif., Nov 5 (Reuters) - In a bid to further pump up demand for its iMac personal computer, Apple Computer Inc. , said on Thursday it is offering consumers a $29.99 a month financing program to buy the iMac. "For the price of three pizzas a month, you can own an iMac," Steve Jobs, Apple's co-founder and acting chief executive, said in a statement. The snazzy translucent blue iMac, which first became available in August, has proved be to the fastest-selling new product in the fabled computer maker's history. It retails for around $1,300. Apple said the financing program requires 67 monthly payments which would total just under $1,992 when paid in full. The new plan, to be offered through participating Apple retailers and resellers, requires no money down for 120 days and charges an annual interest rate of 14.9 percent. Apple's financing program also will allow customers to finance add-on products including printers, storage devices, scanners and software for the first 90 days after the purchase. A spokesman was not immediately available to comment whether the program would be available overseas. Analysts believe the initial success of the iMac has been at least partly fueled by huge pent-up demand among existing Apple Macintosh loyalists. They say the innovative, compact design has struck a chord among Apple enthusiasts who see in the iMac a return to the innovation that produced the original Macintosh computers. The financing program appears aimed at expanding the iMac's appeal to a wider audience, especially first-time computer buyers. The program echoes the "Your;Ware" financing introduced by Gateway 2000 Inc. earlier this year for its own line of PCs. That program is aimed at repeat computer buyers and offers a trade-in program when buying future PCs. The iMac played a key role in propelling Apple's earnings well past Wall Street expectations in its September quarter. Apple stock was down 56 cents to $38.125 in early Nasdaq trading Thursday.