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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, according to "Bloomberg" (http://tinyurl.com/abrru64).
Payments on purchases costing from 300 yuan (approximately US$48) to 30,000 yuan made via the company’s Chinese website can be spread over as long as two years, according to the site. The plan, which requires a China Merchants Bank Co. (600036) credit card, has fees ranging from zero to 8.5%.