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Apple will finance Chinese online Apple iPhone purchases

Posted: , by Alan F.

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Apple will finance Chinese online Apple iPhone purchases
Sales of the Apple iPhone in China have been held back by the lack of an agreement between Apple and China Mobile to produce a version of the device that would run on the carrier's proprietary 3G pipeline. After all, China is the world's largest cellphone market and China Mobile is the largest carrier on Earth. But Apple does have a plan to increase sales of the iPhone in China. By offering financing on online sales of the device, Apple hopes to get Chinese phone buyers to turn away from their current love, the Nokia Lumia 920.

To get the financing, buyers must have a China Merchant Bank credit card

To get the financing, buyers must have a China Merchant Bank credit card

According to the report, Apple will offer the Chinese interest rates between 0% and 8.5% depending on the plan chosen. Buyers can finance over 12, 18 or 24 months and must open a credit card account with China Merchants Bank Co. As we previously noted, this financing option is good only for online orders, which must range from $50 to $5,000.

Currently, the Apple iPhone is only the 6th most popular handset in China. Apple CEO Tim Cook recently met with China Mobile officials and both sides discussed subsidizing the Apple iPhone among other topics. It is possible that this financing offer was put in place due to China Mobile's desire not to pay for subsidized handsets. While China is now Apple's second largest market, Cook predicts that it soon will be number one.

source: CNETAsia via eWeek

15 Comments
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posted on 19 Jan 2013, 13:06 9

1. Bernoulli (Posts: 1473; Member since: 01 Sep 2012)


No it won't, the whole country knows what happens at Foxconn at the Apple side, they can't even get Chinese New years off!

posted on 19 Jan 2013, 15:03 7

5. Droid_X_Doug (Posts: 5908; Member since: 22 Dec 2010)


This is also a sign of desperation at Apple - it has been 5+ years since the iPhone was released and this is the first time that Apple has decided to offer financing.... Financing is typically done when sales to cash customers have peaked and it is time to find more buyers of the over-priced toys.

posted on 20 Jan 2013, 02:14 1

12. PhenomFaz (Posts: 1094; Member since: 26 Sep 2012)


but this time the sales haven't peaked and Apple is just plain desperate for customers. Moreover Apple is brining good ol' corporate crap policies to China by taking in league other Chinese organizations like the bank and the carrier....somehow I have a bad feeling that Apple may eventually end up torturing chinese people even more into buying their phones by offering insane credit and pushing people into credit crises.

In my personal opinion if there are too many strings attached then it aint worth the hassle!

posted on 19 Jan 2013, 18:42

8. coppico (Posts: 22; Member since: 03 Dec 2012)


but nobody cares, Chines people are cold..
those who have $$$ will buy, and China is a country which rich don't give a s**t about poor...Apple can't do this to Foxconn unless Chinese ppl is doing it to Chinese ppl..

Trust me on this man, I'm Chinese. and i know the situation is sad

posted on 19 Jan 2013, 19:28 1

9. joey_sfb (Posts: 3074; Member since: 29 Mar 2012)


Chinese New Year is the most important day which all if not most will travel back to their home town to be with family. How come Foxconn can do this. Unbelievable!!

posted on 20 Jan 2013, 11:32

13. coppico (Posts: 22; Member since: 03 Dec 2012)


the thing for China is, if you don't like the job, go away, there are hundreds and thousands of people that want the job, even working 365days/year, as long as they get some money to feed their old parents living the lowest standards in the village

posted on 19 Jan 2013, 13:20 7

2. BigBoss10 (Posts: 232; Member since: 31 Aug 2012)


Foxconn workers are treated like dog...go S H I T apple

posted on 19 Jan 2013, 14:07 4

3. reyenrique (Posts: 99; Member since: 07 Oct 2012)


making more money an no benefits of the USA

posted on 19 Jan 2013, 19:32

10. joey_sfb (Posts: 3074; Member since: 29 Mar 2012)


I don't think American will submit to having to work thru Christmas, Boxing day and New year. That what apple is asking the Chinese to do. So you know why Apple is not bring their production back to US.

posted on 19 Jan 2013, 14:18 3

4. ray77 (Posts: 121; Member since: 17 Nov 2012)


apple care for them self and not the people , and only Al Gore will like the ideal an the stock brokers.

posted on 19 Jan 2013, 15:31 2

6. timtimity (Posts: 196; Member since: 13 Aug 2012)


I know financing is done for a lot of products, but if they've got to offer financing to sell the devices, doesn't it prove that hardly anyone can afford them? Instead of looking into the reasons why it's not selling well, it seems Apple would just rather put people into debt than reduce their profits.

posted on 19 Jan 2013, 16:45 1

7. rusticguy (Posts: 2828; Member since: 11 Aug 2012)


India has Credit Card companies giving interest free EMI of 6,9,12 months and yet not many use this to buy Apple phones as they are criminally expensive.

posted on 20 Jan 2013, 01:57 2

11. lovefist (unregistered)


selling overpriced phones in a country with almost no brand loyalty.. good luck apple. chinese will always want to have the greatest and cheapest alternative.

posted on 22 Jan 2013, 04:15

14. amirata_xman (banned) (Posts: 33; Member since: 05 Jan 2013)


Foxconn workers are treated like dog

posted on 07 Feb 2013, 05:31

15. josephsmeadows (Posts: 1; Member since: 07 Feb 2013)


Hi

Thanks for sharing such good discussion.

Thank you
therothirarules.com

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