SHANGHAI (Reuters) - Apple Inc (NASDAQ:AAPL) 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.
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.