Apple products are expensive, and they’re especially expensive in China, a country where Foxconn workers can’t afford the iPhones they make. To help make its devices more affordable for Chinese customers, Apple has started offering payment plans that range from 6-24 months. The plans are available for purchases between 300 yuan to 30,000 yuan, or about $48 to $4,825.
The 6-12 month installments are offered with 0% interest, while a 2-year payment plan comes with a 8% interest charge. Customers must be using China Merchants Bank to participate.
