Apple will finance Chinese online Apple iPhone purchases

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

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9 Comments

2. BigBoss10

Posts: 279; Member since: Aug 31, 2012

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

3. reyenrique

Posts: 99; Member since: Oct 07, 2012

making more money an no benefits of the USA

10. joey_sfb

Posts: 6794; Member since: Mar 29, 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.

4. ray77

Posts: 126; Member since: Nov 17, 2012

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

6. timtimity

Posts: 196; Member since: Aug 13, 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.

7. rusticguy

Posts: 2828; Member since: Aug 11, 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.

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.

14. amirata_xman

Posts: 33; Member since: Jan 05, 2013

Foxconn workers are treated like dog

15. josephsmeadows

Posts: 1; Member since: Feb 07, 2013

Hi Thanks for sharing such good discussion. Thank you therothirarules.com

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