Apple’s stock does not seem to be the darling of Wall Street any more at this point in time, and it makes perfect sense. What goes up must come down, and it has retreated under the $500 mark compared to the $700 high not too long ago. Hopefully Cupertino will be able to pull some sort of magical rabbit out from their hat, and perhaps a strong performance in China could help prop up the stock’s price. We have read some stories in the past on how desirable Apple’s products are in that part of the world, and to make their product range more accessible to the masses, Apple has decided on a new instalment payment option in its online store in China.
Right now, this instalment plan will be made available to customers of China Merchants Bank, where one can choose from interest-free instalment options of 1, 3, 6 and 12-months. Those who opt for an 18 month and 24 month payment option will have to fork out 6.5% and 8.5% interest, respectively. Will this be the beginning down the slippery slope of debt for some Chinese folk? We hope not.