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Apple is looking to get over its sales woes in China but offering prospective customers interest-free financing with a little help from Alibaba.
Apple’s China website now offers financing packages for iPhones that include zero percent interest packages provided in association with several banks and Huabei, a consumer credit company operated by Alibaba’s Ant Financial unit, as first noted by Reuters.
Reuters - Packages - Offer
The Reuters report further explains the packages on offer:
On its China website, Apple is promoting the new scheme, under which customers can pay 271 yuan ($40.31) each month to purchase an iPhone XR, and 362 yuan each month for an iPhone XS. Customers trading in old models can get cheaper installments.
Users - Products - Minimum - Worth - Apple
Users buying products worth a minimum of 4,000 yuan worth from Apple would qualify for interest-free financing that can be paid over three, six, nine, 12 or 24 months, the website shows.
Apple is also offering discounts for customers who trade in devices from the likes of Huawei, Xiaomi and others.
Deals - Development - Weeks - Apple - Revenue
The deals are an interesting development that comes just weeks after Apple cut revenue guidance for its upcoming Q1 earnings. The firm trimmed its revenue from the $89 billion-$93 billion range to $84 billion on account of unexpected “economic deceleration, particularly in Greater China.”
Offering attractive packages...
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