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Apple battles weak iPhone demand in China with interest free financing

The US tech behemoth issued a rare revenue warning last month citing weaker iPhone sales in China

Reuters  |  Shanghai 

Apple Inc has teamed up with Chinese payments giant Ant Financial Services Group and several local banks to offer interest-free financing, its first such move in the country as it looks to boost waning smartphone sales. The US tech behemoth issued a rare revenue warning last month citing weaker iPhone sales in China, one of its most important markets, where consumer spending has taken a hit due to a slowdown in economic growth. 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 ...

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First Published: Fri, February 22 2019. 10:02 IST
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