|Jan 16, 2013, 04:02 PM||#1|
Apple Adds Credit Options for Chinese Buyers
Apple today added installment payment plans to its online store in China, giving Chinese buyers the option to purchase iPhones, iPads, and MacBooks via credit.
Consumers can choose to pay in installments on merchandise that costs between 300 yuan ($48) and 30,000 yuan ($4,800), through a plan from China Merchants Bank Co.
As Bloomberg notes, the credit option puts expensive devices like the iPad and the iPhone into the reach of Chinese workers, who often cannot afford to purchase Apple's devices.
Apple is currently offering payment plans over three, six, 12, 18, and 24 months. A promotion that lasts through January 23 makes payment plans lasting a year or less interest free. Payment plans with 18 installments incur a fee of 6.5 percent of the selling price, and 24 installment plans have a fee of 8.5 percent.
Article Link: Apple Adds Credit Options for Chinese Buyers
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