Tech giant Apple’s smartwatch range will go on sale in South Africa on October 23, but questions exist over its high local pricing, writes GARETH VAN ZYL.
The official distributor for Apple products in South Africa, Core Group, on Friday revealed recommended pricing for the Watch range which will be on sale in the iStore, Digicape and Incredible Connection stores.
Pricing is expected to range from R5 899 for the 38mm Apple Watch with a silver aluminium case and white sport band to R18 499 for the 42mm version with a space black stainless steel case and link bracelet.
The local pricing, though, is higher than the prices these products are advertised for on the official Apple.com website in the US.
The 38mm Apple Watch with the silver aluminium case, for example, is advertised at $349 (R4 651) in the US whereas Core Group has recommended retail pricing of R5 899 ($442) for the same product.
In another example, Core Group has recommended retail pricing of R9 999 ($751) for a 42mm Apple Watch with a stainless steel case and a red sport band. On the Apple.com website, this same device is advertised for $599 (R7 968.50).
Core Group told Fin24 on Monday that “there is a perceived difference between pricing in South Africa and the United States, with regards to the importing of Apple products by Core Group”.
“Firstly, US prices are quoted online exclusive of any sales tax, therefore, as a starting point, you immediately need to deduct 14% VAT (Value Added Tax) off the advertised price in South Africa,” Core Group spokesperson Tanya Kovarsky told Fin24 in an email.
“Secondly, certain of our products attract ad valorem and import duties. This is particularly evident in the case of iPods which attract 25% duties,” said Kovarsky.
Core Group also pointed to the fluctuation in the rand-dollar exchange rate as having a negative impact on pricing.
It explained to Fin24 that it has entered into foreign exchange contracts (FECs) which result in pricing being locked in a fixed rate valid for a particular period of time.
“These FECs are intended to protect the consumer against continual fluctuations and unfair increases in pricing, but if the exchange rate improves, consumers perceive that the South African retail price should be much closer to the US retail price,” said Kovarsky.
“Core Group is not the only company that experiences the above challenges, and this is evidenced by the price differences across a broad spectrum of product categories,” added Kovarsky.
Data journalism takes top prize in revamped awards
The entries to the 2018 Vodacom Journalist of the Year Awards were extraordinarily varied and of an excellent standard, with new categories introduced which are based on content as opposed to platforms. This year, the judges decided that two entries were equally worthy of the coveted Vodacom Journalist of the Year Award.
The first co-winning entry, in the new Data Journalism category, is a set of stories by Alastair Otter and Laura Grant of Media Hack which showed how Data Journalism is shaping the future. The second co-winning entrant is Bongani Fuzile of the Daily Dispatch for his articles in the investigative category on how migrant workers were being ripped off by pension deductions (full citations below).
Convenor of the judging panel Ryland Fisher says: “This year we modernised the 12 categories that journalists could enter their work in and the change was embraced by entrants. In a turbulent time for media, the 2018 entries once again proved that there are excellent South African journalists delivering praiseworthy work, and we commend them for finding new and innovative ways to cover the news.”
Takalani Netshitenzhe, Chief Officer for Corporate Affairs at the Vodacom Group, says: “Vodacom is proud of its 17-year association with these prestigious awards, which make an important contribution to our society through the recognition of journalistic excellence. I’d like to congratulate all of tonight’s winners and, as always, I’d like to pay tribute to our hardworking judges. Ryland Fisher, Mathatha Tsedu, Arthur Goldstuck, Collin Nxumalo, Elna Rossouw, Patricia McCracken, Megan Rusi, Mary Papayya, Albe Grobbelaar and Obed Zilwa: thank you for making these awards a continued success.”
Veteran journalist and media stalwart Ms Amina Frense is the winner of the 2018 Vodacom Journalist of the Year Lifetime Achiever Award. She has spent decades in mainstream media both locally and internationally. She is a former Managing Editor: News and Current Affairs at the SA Broadcasting Corporation. She has worked in many countries abroad as a producer and a foreign correspondent, has written two books and is also a founding member of SANEF where she still serves as a council member (full citation below).
The overall winners share the R100 000 main prize. National winners in the various categories are as follows, with each winner taking home R10 000:
The entries in this category were of an exceptionally high standard. One entrant stood out and became the unanimous winner. This journalist showed an exceptional skill for story-telling and for finding unexpected angles and unknown facts. For his stories about Musangwe’s fight for recognition, Age cheating in SA football, and Hansie Cronje revisited, the winner is Ronald Masinda, and the team of Gift Kganyago, Nceba Ntlanganiso and Charles Lombard from eSAT TV.
Cons exploit Telegram ICO
Kaspersky Lab researchers have uncovered dozens of highly convincing fake websites claiming to be investment sites for an initial coin offering (ICO) by the Telegram messaging service. Many of these websites appear to belong to the same group. In one case alone, tens of thousands of US dollars’ worth of cryptocurrency were stolen from victims believing they were investing in ‘Grams’, Telegram’s rumoured new currency. Telegram has not officially confirmed an ICO and has warned people about fraudulent investor sites.
In late 2017, stories started to circulate that the Telegram messaging service was launching an initial coin offering (ICO) to finance a blockchain platform based on its TON (Telegram Open Network) technology. Unverified technical documentation was posted online, but there appears to have been no confirmation from Telegram itself. The resulting confusion seems to have allowed fraudsters to capitalise on investor interest by creating fake sites and stealing vast sums of money.
Kaspersky Lab researchers have discovered dozens of such sites, possibly belonging to the same group, claiming to sell tokens for ‘Grams’ and inviting investors to pay with cryptocurrencies including Bitcoin, Ethereum, lice litecoin, dash and Bitcoin dash. A record of transactions on one site revealed that the scammers were able to steal at least $35,000 US dollars’ worth of Ethereum from investors.
The researchers found that some of the websites were so convincing that even after Telegram and others began to issue warnings, they were still able to recruit potential investors. Most use a secure connection, require registration and generate a unique online wallet for each new victim, making it harder to track the money.
Judging by the content of the fake websites, it appears they may have common ownership. For example, several have the exactly the same ‘Our Team’ section.
“ICOs are a fairly risky investment and many people don’t yet fully understand how they work, so it is not surprising that high quality fake websites, with seemingly reassuring features such as a secure connection and registration are successful at luring people in. People wishing to invest in an ICO would do well to check with the company behind it and make sure they know exactly who they are giving their money to, or they may never see it again,” said Nadezhda Demidova, Lead Web-Content Analyst, Kaspersky Lab.
Kaspersky Lab offers the following advice for users considering investing in an ICO:
- Check for warning signs: for example, some of the fake Telegram ICO websites had the same wrong image next to the name of Telegram’s Chief Product Officer.
- Do your homework: always check with the brand’s official site to verify the legitimacy of the investment site and, if necessary contact the company’s ICO teams before investing any money or currency.
- Use reliable security solutions such as Kaspersky Internet Security and Kaspersky Internet Security for Android, which will warn you if you try to visit fake internet pages.