With Apple’s ongoing efforts to generate more sales of the latest iPhones, the company is now advertising another deal for users in China. According to WSJ, Apple has teamed up with Alipay, a popular mobile-payments network in China, to offer an interest-free loan for users looking to purchase an iPhone through Apple’s online store.
Customers looking to upgrade to the latest iPhone will have an option to apply for an interest free loan over the course of 24 months. The minimum requirement is 4,000 yuan ($595 USD), which means that Chinese customers will be able to purchase an iPhone 8 or newer, which starts at 5,099 yuan or $758 USD.
Apple began a similar program in Australia, where customers can qualify for a 0% loan for purchases over $1000 AUD. But unlike Australia, customers in China are required to have a two-year loan, with no options for a shorter loan.
According to WSJ, the new offers are the lowest the country has seen in terms of monthly costs for an iPhone, starting at just under $30 USD.
Similarly, to boost sales of iPhones in Japan, carriers within the country recently lowered the price of its flagship iPhone XR. The company is also running a worldwide trade in promotion that lets customers trade in an iPhone 7 Plus or newer to reduce the price of the iPhone XR.