Apple is providing cheaper loan options to Apple Consumers through Goldman Sacs according to the latest report. It is currently negotiating with the Goldman Sachs to provide the loan in cheaper interest for the consumers who are interested in buying Apple iPhones or other products from Apple. It is believed that the negotiations between Apple and Goldman Sachs are currently on the progress, so we are not sure about the finalized report as both the Goldman Sachs and Apple has not passed any comments to the media.
Currently, Apple has launched the iPhone Upgrade Program, providing 24 months of interest-free financing programs to the buyers of the iPhone. Consumers participating in this program can upgrade to new iPhones after making the payment for 12 months. You can find more information about the Apple iPhone Upgrade Program here. The current iPhone Upgrade Program is provided by the Citizens Financial Group, but the situation might change if the Goldman Sachs is involved.
This cooperation may create a win-win situation both for Apple Inc. and Goldman Sachs. On the one hand, it will help consumers of Apple to buy Apple products at lower prices and will boost the sales of Apple products; On the other hand, Goldman’s loan business will get millions of new user.
The Apple iPhone upgrade plan is getting more important to Apple as the high price of its devices has not been able to attract a group of all average-spending consumers. In the wake of doubts on the $1,000 pricing of the iPhone X, Apple CEO Tim Cook said at a conference last November that it was equivalent to $33 per month, “that is how many cups of coffee a week”.
If this deal finalizes, consumers can buy iPhone, Mac and other Apple products in cheaper loan options.