The latter event draws big crowds every year. Leung Ding-kau, chairman of the Chamber of Hong Kong Computer Industry which organises the event, said 300 exhibitors will showcase their latest products this year - compared to 200 last year - offering average discounts of 30 per cent.
One highlight will be the launch of a new touch-screen portable computer. Other cool products include 3D televisions and monitors, tablet computers and e-book readers.
Gadget lovers seeking the best bargains will have to look closely at the fair's schedule, as there will be a quota of the most discounted products available every day.
Among these are 30 Toshiba 2GB SD cards available at HK$1 each (original price HK$79); 20 Thomson DTH-4000 5.1 Home Theatre sets on offer for HK$480 (original price HK$1,380); and 20 Kohjinsha SH811WHC UMPC portable computers priced at HK$1,999 (originally HK$2,999).
A limited number of Playstation 3 and Xbox 360 video game consoles, as well as an iPad and Apple's 27-inch LCD monitor, will be auctioned, with an opening price of HK$1.
Leung said 3D products and netbooks are expected to be a big hit. 'Netbooks are facing intense competition from tablets such as iPads and no they can be bought at discounts of more than 30 per cent,' he said.
The Sham Shui Po festival takes place in the district's four largest computer malls. The Hong Kong Computer Association, which organises the event, says 600 shops are taking part, offering discounts on 2,400 items.
The discounts on most of these items will again average 30 per cent, but every day during the event there will also be special discounts on 300 products, the association's Lui Kin-chung said.
Netbooks and computer monitors are again highlights. A netbook can be bought for as little as HK$1,899, and a 19-inch monitor for HK$599.
Other products available at reduced prices include digital cameras, high-definition video cameras, computer main boards, printers, scanners and a range of accessories.
A lucky draw with 10 big prizes - including a 42-inch high-definition LCD television and notebook computers - is sure to attract visitors. Customers who make a purchase of more than HK$100 and collect a stamp from the four malls can enter the draw.
Lui said the discounted prices were made possible by a HK$500,000 donation from the association.