An iPhone X with an exorbitant price of $999 is not something that consumers believe carries a lot of value from a price/performance perspective, even though Tim Cook has voiced an opposite opinion on this. For the aforementioned price, consumers will be able to pick up a decent spec’d notebook but it looks like a potential partnership between Goldman Sachs and Apple might be able to change the way consumers buy the company’s premium products.
Agreement Between Apple and Goldman Sachs Is in Its Early Stages and Could Still Fall Apart
According to The Wall Street Journal, customers wanting to grab a $999-priced iPhone X could be able to take a loan from Goldman Sachs.
“The Wall Street firm is in talks to offer financing to shoppers buying phones, watches and other gadgets from Apple, people familiar with the matter said. Customers purchasing a $1,000 iPhone X could take out a loan from Goldman instead of charging it to credit cards that often carry high interest rates.”
Charging the iPhone X purchase to their credit cards is often accompanied by high-interest rates and will definitely mean that customers might have to end up paying a much higher price for the bezel-less flagship. The advantage for Goldman Sachs will be that the financial firm will be looking to grow itself from a consumer bank perspective and apart from relying on corporate clients, this could also be seen as a route to consumer lending.
As newer technologies can be found with every new iteration of the iPhone, we can expect that these devices are going to feature a slight increase in their MSRPs. The consumer-lending business model could work out for those that want to experience the Apple ecosystem, though there are better alternatives available in the world.
Do you think the partnership between the two entities will be able to work out? Tell us down in the comments.