Although Apple is doing pretty well in terms of absolute numbers in China, selling two million iPhones in just three days, on a marketshare basis, it’s way behind the competition in the region. Research firm IDC’s stats rank Apple at the sixth position in China, behind ZTE and Lenovo, and down from its fourth position last quarter.
Analysts, speaking to Bloomberg, note that Apple’s already achieved maximum penetration among China’s affluent class, and the next frontier is cracking the middle-class market, where a huge potential of growth lies. The average urban Chinese citizen earns 3,585 yuan monthly and the price of an iPhone 5 in the region starts from 5,288 yuan.
While Apple works on readying a low-cost iPhone, financing plans like these will surely help the company reach out to a broader audience, although not to the same extent as its competitors, who have devices across the entire price spectrum.
Apple offers similar payment methods in countries like the US, Singapore and Brazil, but the plans in China feature a lower applicable price and longer periods. The company has, on several occasions, iterated the importance of the Chinese market for future growth. Most recently, Apple CEO Tim Cook and Marketing head Phil Schiller were in the country to meet government officials and talk to China Mobile, the world’s largest carrier, which still doesn’t carry the iPhone.
Would such financing plans convince you to buy the iPhone as opposed to cheaper Android smartphone?
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