AfterDawn: News

Apple lets Chinese buyers purchase iPhones in installments

Apple has begun allowing users to buy iPhones and Macbook laptops in China while paying in installments.

The payments can be made over a two year period with a purchase price limited to 30000 yuan ($4800) or less. To take advantage of the installment plan, you will need to get a credit card from China Merchants Bank Co.



Apple will allow buyers to split payments in 3, 6, 12, 18 or 24 installments and if you choose 12 installments or less there is no interest. If you split it to 18, the interest is 6.5 percent and the interest jumps to 8.5 percent for 24 installments.

CEO Tim Cook has said China will soon overcome the U.S. to become the company's largest market.

However, unlike in the U.S., purchasing an iPhone in China is a very expensive proposition for most. The average urban worker in China makes enough to purchase an iPhone in 6 weeks. The iPhone costs above 5000 yuan, compared to an 800-1000 yuan price tag for locally-built Android devices.

Written by: Andre Yoskowitz @ 15 Jan 2013 21:55

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• 7 comments

• ruff469

  OH SH!T
  

  15.1.2013 22:37 #1

• aldan

  what,they arent tasering them like in the states?
  

  16.1.2013 02:40 #2

• KillerBug

  LoL...no, they only taser you if you can actually afford to purchase them...if you have to go into debt to the tune of 6 weeks pay then they are fine with selling you one...the financial ruin is enough pain I guess.

  16.1.2013 03:41 #3

• motospeed

  Apple products are made for a population who are entertained by television shows like the x factor. Anyone with a brain in their head knows ALL Apple products are overpriced ripoffs of technology that is already in place.

  16.1.2013 06:04 #4

• JST1946

  I think I'll buy me a half dozen iPhones and use them for door stops and a couple of Macbooks for wheel chock blocks when I work on my car.
  

  20 Year U.S.Army Veteran.Vietnam 1969-1972 101st Abn.Div.

  16.1.2013 09:43 #5

• PraisesToAllah

  Apple spent so much money on research and development of their new products, that they had to make them expensive to make a profit. Not to mention apple is now a name brand, so there's extra money in that too.
  
  But lately, that R&D seems to be dysfunctional.

  16.1.2013 23:30 #6

• xboxdvl2

  Originally posted by JST1946: I think I'll buy me a half dozen iPhones and use them for door stops and a couple of Macbooks for wheel chock blocks when I work on my car. you'd be better off buying half a dozen and selling them to china with 100% markup.sell them with 80% markup they be sold in minutes.
  

  i have the big screen tv,a ps3 and 5.1 channel surround sound.car still runs smooth and computer still works but its a bit outdated.

  17.1.2013 04:01 #7