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Apple is offering interest-free financing to boost iPhone sales in China

Posted by | alibaba, alibaba group, Android, Ant Financial, Apple, apple inc, apple store, Asia, China, india, iOS, iPhone, iphone 6s, mobile phones, product red, Xiaomi | No Comments

Apple is looking to get over its sales woes in China by offering prospective customers interest-free financing with a little help from Alibaba.

Apple’s China website now offers financing packages for iPhones that include zero percent interest packages provided in association with several banks and Huabei, a consumer credit company operated by Alibaba’s Ant Financial unit, as first noted by Reuters.

The Reuters report further explains the packages on offer:

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 each month for an iPhone XS. Customers trading in old models can get cheaper installments.

Users buying products worth a minimum of 4,000 yuan worth from Apple would qualify for interest-free financing that can be paid over three, six, nine, 12 or 24 months, the website shows.

Apple is also offering discounts for customers who trade in devices from the likes of Huawei, Xiaomi and others.

The deals are an interesting development that comes just weeks after Apple cut revenue guidance for its upcoming Q1 earnings. The firm trimmed its revenue from the $89 billion-$93 billion range to $84 billion on account of unexpected “economic deceleration, particularly in Greater China.”

Offering attractive packages may convince some consumers to buy an iPhone, but there’s a lingering sense that Apple’s current design isn’t sparking interest from Chinese consumers. Traditionally, it has seen a sales uptick around the launch of iPhones that offer a fresh design, and the current iPhone XR, XS and XS Max line-up bears a strong resemblance to the one-year-old iPhone X.

The first quarter of a new product launch results in a sales spike in China, but Q2 sales — the quarter after the launch — are where devices can underwhelm.

It’ll be interesting to see if Apple offers similar financing in India, where it saw sales drop by 40 percent in 2018 according to The Wall Street Journal. Apple’s market share, which has never been significant, is said to have halved from two percent to one percent over the year.

Finance is a huge issue for consumers in India, where aggressively priced but capable phones from Chinese companies like Xiaomi or OnePlus dominate the market in terms of sales volume. With the iPhone costing multiples more than top Android phones, flexible financing could help unlock more sales in India.

China, however, has long been a key revenue market for Apple, so it figures that this strategy is happening there first.

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Apple releases a red iPhone 8

Posted by | Apple, Gadgets, iPhone, iPhone 8, product red, red | No Comments

Apple is doing it again. The company just unveiled a new version of the iPhone 8 and iPhone 8 Plus. It has a bright red enclosure and a black front. A portion of Apple’s proceeds will fund HIV/AIDS grants from the Global Fund.

Other than that, it’s an iPhone 8. You’ll get the exact same features and components as in other iPhone 8 models. The iPhone 8 is also available in gold, silver and (“space”) gray. Alas, there’s still no rose gold option.

When Apple unveiled the red version of the iPhone 7, many people didn’t understand why Apple put white bezels at the front of the device. Red and black seem like a good match. That’s why some people even bought screen protectors with black borders to fix this.

This year, Apple is switching to black. It’s interesting to see that Apple waits around 6 months before launching red versions of its iPhones. It could be a way to foster sales in the middle of a product cycle.

The red iPhone 8 is going to start at $699 with 64GB just like regular iPhone 8 models. There will be 256GB versions too. Pre-orders start tomorrow and you’ll be able to buy it in Apple stores on Friday.

For iPhone X users, Apple is launching a dark red leather folio. Apple is also sharing some numbers about its partnership with (PRODUCT)RED. Since 2006, Apple has donated $160 million to the Global Fund through limited edition iPods, iPhones and accessories.

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Amazon’s all-new Echo goes (RED) for a limited time

Posted by | Amazon, computing, echo, fabric, Gadgets, hardware, Philanthropy, product red, TC | No Comments

 The new Echo is a better looking device than its predecessor, thanks in large part to its various fabric coverings. Now, there’s a new option for the outer shell: A PRODUCT(RED) special limited edition. The fabric outer comes in red, appropriately enough, and $10 of the purchase price (of $99.99, same as any other Echo) will go toward (RED)’s work fighting AIDS through the Global Fund. Read More

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