"Apple Inc. hopes to revive sales in China, has linked with the world's largest financial technology company to provide iPhone buyers with an affordable buying opportunity: up to two years of interest-free financing," Stella Yifan Xie reports to the Wall Street Journal .
"Apple and Alipay, a popular Chinese mobile payment network owned by Jack Ma's Ant Financial Services Group, this week informed that they could borrow money at no cost to buy products on Apple's online store and pay for the units in monthly installments over 24 months, Xie says. "The minimum purchase to qualify for interest-free financing is 4,000 yuan ($ 595). On Apple's China website, the cost of an iPhone 8 starts at 5,099 yuan ($ 758) while the iPhone XR, a new handset released in the fall, which the company hoped to sell well in China, has a starting price of 6,499 yuan ($ 967). "
" The new finance offering from Antwerp's Huabei service, which provides credit cards to tens of millions of individuals using the Alipay platform, will lower the monthly amounts people have to pay for new iPhones, Xie says. "Huabei, which means" just spend "in Chinese, told customers on Wednesday that they could temporarily increase their credit limits so they could buy Apple products."
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MacDailyNews Take: You know you want a new iPhone, then take a new iPhone!