Apple holds a yearly one-day sale in Asia to coincide with the Chinese New Year similar to its Black Friday sale in the US. The discounted prices only apply to on-line sales in China, Hong Kong, Malaysia, Singapore, South Korea, Taiwan, and Thailand and not in its retail stores.
Apple introduced an installment plan for on-line purchases earlier this month for sales over 300 Yuan (about $48) and ends this promotion on Wednesday, January 23. The installment plan offered customers the option of paying over 3, 6, 12, 18 or 24 months. There are no interest charges for the 3, 6 and 12 months options, a rate of 6.5% for the 18 months option and 8.5% for the 24 months option.
On January 11 of this year Tim Cook, Apple’s CEO, said that China will eventually pass the US in sales but did not give a timeframe. As a point of reference the US has about 250 retail stores while China has 11. The Americas accounted for 37% of Apple’s sales in fiscal 2012 and China was about 15%.
Apple reports its December quarter results after the market close on Wednesday, January 23.
This was the ad for the 2012 Year of the Dragon on-line sale.
This was the ad for the 2011 Chinese New Year on-line sale.
Disclosure: My family and I own Apple shares
