NEWS - Monday, December 11, 2006


Bank In India Offers To Finance Xbox 360 Purchases

India is fast becoming a key source of labor for American tech companies, but with average annual income in the country less than the price of a personal computer, the hi-tech products manufactured by multinationals that have set up shop there remain out of reach for most of the nation. That reality became more apparent when a major Indian bank last week launched the kind of financing program that in America is ordinarily used for automobile or major appliance purchases. In this case, however, it’s for Indians wanting to buy Microsoft’s Xbox 360 game system. India’s ICICI bank says it will secure an Xbox 360 Core system for customers for an upfront payment of the rupee equivalent of about $20.00 and six monthly installments of about $73.00. The Xbox 360 Core system ordinarily sells in India for about $518.00. ICICI officials say this type of program is needed to give everyday Indians access to the products produced by the multinationals that have outsourced much of their production to the country’s low wage workers. "Bridging the gap between affordability and desirability calls for a need to use innovative methods to reach out to the masses across the country," said Sachin Khandelwal, general manager for ICICI’s Cards Product Group, in a statement. He may be overly optimistic about the program. With average annual income at less than $500 in India, the purchase of an Xbox 360 would for the typical resident represent a financial outlay that in the West would be the equivalent of buying a house. It’s not likely that too many Indians are going to shell out a year’s salary just to play Yuvraj Singh International Cricket 2007, a title produced for the local market by Codemasters, even on the installment plan. Still, the wages paid by Microsoft and other U.S. tech firms operating in India far exceed the national average, even if they’re modest by American standards. A programmer working at a Microsoft office in Bangalore is likely making close to $10,000 annually or more. So the company should have little trouble identifying its target customers in the country -- they’re likely on its payroll, or that of a competitor.
Source: http://news.yahoo.com/

Comments

Site Statistics

Registered Members: 44,321
Forum Posts: 725,653
Xbox One Titles: 1,081
Xbox 360 Titles: 1,085
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 585
Original Xbox Titles: 987
Staff Reviews: 1,643
Member Reviews: 10,339
News Articles: 14,074
Screenshots: 30,717
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News








See News Archives

Community Forum Activity

Xbox One Assassins Creed Origins
Post by oryanphine
1 Replies, 324 Views

Xbox One S Porsche 919 Hybrid Edition
Post by oryanphine
3 Replies, 390 Views

OG Xbox on Xbox One now live!
Post by Kamshaft
2 Replies, 621 Views

Xbox One S Renault F1
Post by oryanphine
2 Replies, 459 Views

Xbox One S Wolfenstein 2 The New Colossus
Post by oryanphine
1 Replies, 623 Views

Xbox One S Prey
Post by oryanphine
0 Replies, 422 Views

Xbox One S Cuphead
Post by oryanphine
2 Replies, 717 Views

Xbox One S Shadow of War a gagner
Post by oryanphine
0 Replies, 413 Views

I Buy Very Rare XBox 360 Faceplates
Post by Smill
8 Replies, 1012 Views

Xbox Wire desormais disponible en francais
Post by oryanphine
0 Replies, 778 Views

Manette Xbox 360 Gamestop Radioactive
Post by oryanphine
1 Replies, 1089 Views

Xbox One Moratl Kombat X sur Ebay
Post by oryanphine
0 Replies, 1050 Views

Console Xbox 360 et faceplate Xbox 360 in package blue
Post by oryanphine
0 Replies, 1010 Views

Seagate Fanfest External Drive Scorpio
Post by oryanphine
2 Replies, 1366 Views

Ultimate Game Face
Post by oryanphine
3 Replies, 1248 Views

© 2000-2017 XboxAddict.com - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. XboxAddict.com is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics