Apple teams with Ant Financial, banks for interest-free iPhone financing in China


  • TECH
  • Friday, 22 Feb 2019

A man walks out of an Apple store in Beijing, China December 14, 2018. REUTERS/Jason Lee/Files

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.

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