Apple battles weak iPhone demand in China with interest free financing

Topics Apple  | Apple Inc


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).

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