Apple pioneers installment plans in China
Apple has introduced installment payment plans for buyers of iPhones and MacBook laptops in China as it struggles to compete with low-cost devices in the world's largest computer and mobile-phone market. "There is an enormous mid-range consumer market that they are not tapping into," said Mark Natkin, managing director of Marbridge Consulting, a Beijing market research firm. Apple dropped to sixth in China's smartphone market in the third quarter, from fourth in the prior three-month period, as local producers lured buyers with smartphones costing less than $160 each, according to researcher IDC. The phone maker is also opening new stores in China, and Chief Executive Officer Tim Cook has visited twice in the past 10 months as the company tries to boost sales. Apple "has likely approached maximum penetration in China's higher economic stratas, and now needs to be able to appeal to students, workers and rural residents to sustain robust growth," said David Wolf, China managing director for market consultant Allison+Partners in Beijing. Reported by SFGate 10 hours ago.
Apple has introduced installment payment plans for buyers of iPhones and MacBook laptops in China as it struggles to compete with low-cost devices in the world's largest computer and mobile-phone market. "There is an enormous mid-range consumer market that they are not tapping into," said Mark Natkin, managing director of Marbridge Consulting, a Beijing market research firm. Apple dropped to sixth in China's smartphone market in the third quarter, from fourth in the prior three-month period, as local producers lured buyers with smartphones costing less than $160 each, according to researcher IDC. The phone maker is also opening new stores in China, and Chief Executive Officer Tim Cook has visited twice in the past 10 months as the company tries to boost sales. Apple "has likely approached maximum penetration in China's higher economic stratas, and now needs to be able to appeal to students, workers and rural residents to sustain robust growth," said David Wolf, China managing director for market consultant Allison+Partners in Beijing. Reported by SFGate 10 hours ago.