Home > apple > 18,000 China Students Take Out Loans To Purchase iPhones And iPads

apple-store-chinaApple’s products despite what the detractors say, are desired by many, possibly due to peer pressure, society, Apple’s effective marketing campaigns or maybe they truly believe Apple’s products are the best. However we have to ask, how far would one go to own an iPhone or iPad? Well according to a report from Beijing, it seems that a whopping 18,000 students in China have taken out loans just so that they can buy an iPad and iPhone to keep up with their classmates! Sure it’s not completely unreasonable to take out a loan to buy a house or a car, but it seems that the banks (presumably) are charging interest rates that are out of this world, a staggering 47% for a 12-month term, making us think that this is almost on the level of loan sharks!

According to one student from the Wuhan University of Science and Technology, she states that “Apple products are a common topic or a particular community in campus. I used to feel isolated while they were discussing and playing with iPhones or iPads […] I felt embarrassed even to take a look when they were in a heated discussion about a new application.” What do you guys have to say about this? How far would you go to buy something you really wanted?

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