Apple's iPhones could soon become more accessible, as the company is reportedly in talks with Goldman Sachs to offer iPhone financing options.
Buying into the Apple ecosystem typically requires a hefty investment as Apple products don't come cheap. More people might consider buying an Apple device if it's not sold for a high price, but things could change for the better if Apple strikes a new deal with Goldman Sachs.
Nothing is materialized just yet and the discussions might not result in an actual collaboration, but at least Apple is exploring options and talking to the investment bank to see if together they can come up a solution to offer financing options when purchasing Apple devices.
Apple And Goldman Sachs Mulling Financing Options For iDevices
Citing sources familiar with the matter, The Wall Street Journal reports that Apple is in talks with Goldman Sachs to offer financing options for customers who are looking to buy an iPhone, Apple Watch, or some other Apple device.
"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," notes the WSJ.
The publication points out that Apple and Goldman Sachs are still in the early stages of this discussion, so it's premature to tell at this point whether such a deal will actually materialize.
The WSJ further mentions that the investment firm's talks with Apple include the possibility of taking over some part of the company's iPhone upgrade program, which allows users to upgrade annually to the latest iPhone model and enjoy AppleCare+ at no extra cost.
Goldman Sachs Could Finance Apple Device Purchases
If Goldman Sachs reaches an agreement with Apple, it could either add extra options to Apple's current financing options or replace them with new financing schemes. Interest rates could range from 0 percent to 28.24 percent, but it's too early to tell at this point.
Taking a loan toward the purchase of a new Apple device could appeal to many Apple fans as it could offer them a more advantageous option than what is currently available.
"As Apple's investment bank, Goldman Sachs has raised tens of billions of dollars for the technology company," adds the WSJ. "Now, Goldman wants to bank Apple's customers, too-with a ticket size of a few hundred dollars at a time."
Since it's all still in the proposal state for now, however, no clear details are available yet and it remains to be seen what will come of these talks. Neither Apple nor Goldman Sachs offered any comment on the matter, but more information should become available as the talks advance.