Apple teamed with payment giant Alipay to offer consumers in China interest-free financing for its iPhones and other products in a bid to boost sales in the county, The Wall Street Journal reported.
The offer, which ends on 25 March, will be available for device purchases of $595 or more and allow consumers to pay back the total in monthly instalments over the course of two years.
Apple reportedly offered a similar deal at its physical retail locations in the country last month, but the partnership with Alipay will significantly extend its reach: the payment company has more than 700 million active users in China.
Separately, Apple is also offering discounts to Chinese customers who trade in an old iPhone when purchasing a new device.
Apple aims to revive flagging sales in China after weakness in the country dragged overall revenue down 5 per cent year-on-year in the three months to 29 December.
Greater China accounted for 15.6 per cent of the company’s total revenue in the quarter, down from 20.3 per cent in the comparable period of 2017.
On an earnings call in January, Apple CEO Tim Cook bemoaned the decline of device subsidies from operators across the globe, but said the company was working to address cost concerns by making instalment payments and trade-in deals available in more markets.Subscribe to our daily newsletter Back