Apple accepts payment in China's yuan currency

Nov 21, 2011
Apple has started accepting payment in China's yuan currency through its online store, opening it up to the biggest Internet market in the world.

Apple has started accepting payment in China's yuan currency through its online store, opening it up to the biggest Internet market in the world, company officials said Monday.

The App Store, which sells for devices such as iPhone and , started accepting the unit last week in an unannounced move.

"The service has been there since last Friday. It's really good news for our customers and local ," a spokeswoman for Apple China told AFP. She declined to comment on the timing of the move.

The App Store previously listed prices and accepted payment in US dollars, requiring consumers to use payment cards with access to foreign exchange.

The online store will now accept yuan credit cards as well as issued by more than 20 banks, a customer service representative said.

Chinese customers applauded the move. "It's more convenient. I immediately bought Fruit Ninja," Xiang Ke said on his microblog, referring to a popular game.

Die-hard fans in China, which has the world's largest online population with more than 500 million users, have been known to line up for days to get their hands on the latest Apple products.

The California-based has recently expanded aggressively in China, opening its first store in Hong Kong and its third in Shanghai in September, which brings the total to six in Greater China.

Greater China -- which includes Hong Kong and Taiwan -- has become Apple's fastest growing region, with revenue there second only to the United States.

But analysts said allowing yuan payment might not give a big boost to revenue since Apple users can also download pirated applications for free.

"Users who do not want to spend money in the first place will not spend money simply because you allow them to pay in yuan," said Sun Peilin, a Beijing-based analyst with consultancy Analysys International.

Still, the craze for all things Apple in China has triggered widespread of the company's devices.

Several Chinese online stores have offered Apple fans the opportunity to buy a next-generation 5 -- even though it does not yet exist.

In July, an American blogger uncovered fake Apple stores in the southwestern city of Kunming, where even staff working there did not appear to know they were fake.

Explore further: Netflix sues Yahoo CIO for alleged kickbacks

add to favorites email to friend print save as pdf

Related Stories

Apple to add stores in booming China market

Sep 06, 2011

Apple plans to open its first store in Hong Kong and another in Shanghai by year's end, a spokeswoman said Tuesday, as the maker of the iconic iPhone sets its sights on the booming China market.

On sale now in China: the 'iPhone 5'

Oct 05, 2011

Several Chinese online stores are offering die-hard Apple fans the opportunity to buy the much-anticipated next-generation iPhone 5. There's just one catch -- the US tech giant hasn't released it yet.

China 'cracks down' on fake iPhones

Sep 30, 2011

Police in Shanghai have arrested five people for making fake iPhones, state media said on Friday, just as Apple fans overseas wait with bated breath for the launch of the US giant's newest model.

Apple opens Hong Kong store in China push

Sep 24, 2011

Apple threw open the doors to its first store in Hong Kong Saturday, its latest push to tap the booming China market, as protesters accused the technology giant of supporting sweatshop labour.

Crowds turn out for iPad's China launch

Sep 17, 2010

Hundreds queued up Friday for the first official iPads sold in China, the world's biggest Internet market, after months of grey-market action among avid buyers unwilling to wait for the Apple tablet.

Recommended for you

EU Parliament votes to break up Google

1 hour ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

5 hours ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

20 hours ago

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.