Citibank Partners with CSL Mobile to Launch iPhone for Life – a First in Hong Kong

HONG KONG SAR – Media
OutReach – 15 March 2021 – Citibank announced
today its partnership with local telecommunications service provider CSL Mobile
to launch iPhone for Life, a purchasing program for iPhone and a first in Hong
Kong. The program offers customers the flexibility to purchase the latest
iPhone 12 models through lower monthly installments¹, and guarantees
a buy-back value if the iPhone is returned to CSL Mobile after 24 months, under
which the guaranteed buy-back value can be used for upgrading to a newer iPhone
model. This partnership aims to provide selected Citibank credit cardholders²
with the flexibility to settle their phone transaction in a way that aligns
with their lifestyle and consumption preferences.

iPhone 12, iPhone 12 mini, iPhone 12
Pro, and iPhone 12 Pro Max introduce a reimagined design featuring immersive
edge-to-edge Super Retina XDR displays, the powerful A14 Bionic, the fastest
chip in a smartphone, advanced new camera systems, including the ability
to shoot HDR video with Dolby Vision, the best 5G experience, and much
more. 

Selected
Citibank credit cardholders² with an iPhone for Life invitation
notification³ can apply iPhone for Life by purchasing an iPhone 12
model and subscribing to a designated 1O1O/csl 5G service plan for a contract
period of 24 months at csl, 1O1O Center and HKT Shop. Once the iPhone for life application
has been approved⁴ by Citibank, customers can split the iPhone payment⁵
into 25 monthly installments⁶ with 0% APR⁷. Customers are
only required to pay around 77% of the iPhone payment in the first 24 months,
and around 23% of the outstanding iPhone payment (also equal to the guaranteed
buy-back value) on the 25^th month. After 24 months, customers can
choose to return the iPhone to a designated 1O1O/csl retail outlet to receive
the guaranteed buy-back value⁸ for upgrading to a newer
iPhone model, or choose to keep their existing iPhones.

Limited Time Launch
Offer

From
now through May 31, 2021, the first 1,000 eligible cardholders who successfully
apply for iPhone for Life will receive a pair of Powerbeats3 Wireless earphones⁹.

Please
refer to the following link for program details, and terms and conditions:
citibank.com.hk/iPhone-for-Life

To
borrow or not to borrow? Borrow only if you can repay!

1.     Lower
when compared to 24 months credit card installment plan offered by CSL Mobile.

2.     In
order to be eligible for the Plan, (1) you must be a principal credit
cardholder of a Citi credit card issued by Citibank (Hong Kong) Limited
(excluding Citi Rewards UnionPay Card); (2) you must be able to receive the
iPhone for Life invitation sent by Citi and you must apply for the Plan via 1O1O/csl
and (3) you must be able to receive the SMS communications relating to the Plan
from Citibank upon purchase of the iPhone at the Merchants. Failure to receive
any SMS communication relating to the Plan from Citibank, may deem you to be
ineligible to apply for the Plan..

3.     iPhone
for Life invitation notification will be sent by Citibank through the below
channels: SMS or Email or relevant message under Credit Cards account update in
Citi Mobile^® App.

4.     After payment,
customers will receive a “PayLite” Installment Plan SMS from Citi. You are
required to click the embedded link and apply for the plan within 24 hours. The
approval process takes 3-5 working days and you will receive an SMS with your
approval results.

5.     iPhone
payment also refers to as handset price including prepayment by CSL Mobile. 

6.     Once
your application is approved by Citi, you may then repay the iPhone by way of
equal monthly installment payments for 24 months (around 77% of the iPhone
payment) and a lump sum payment on the 25^th month equal to the
Buy-Back Value of your iPhone (around 23% of the iPhone payment).

7.     Installments
shall be billed to the Eligible Card accountholder on a monthly basis, similar
to a normal retail transaction. Installments are subject to interest rate or
other fees pursuant to the applicable Citi Credit Card Agreement if the
cardholder pays less than the total amount due indicated on the monthly
statement of the Eligible Card.

8.     Subject
to functional diagnostics and physical assessment to the returned iPhone during
product return based on the Device Acceptance Criteria by 1O1O/csl.

9.     Key
Features of Powerbeats3 Wireless Earphones:

• Connect via Class 1 Bluetooth®
  with your device for wireless workout freedom
• Up to 12 hours of battery life to
  power through multiple workouts
• With Fast Fuel, a 5-minute charge
  gives you 1 hour of playback when battery is low
• Sweat and water resistance to
  handle tough training
• Flexible, secure-fit earhooks
  maximize comfort and stability
• Dynamic, high-performance sound
  pushes you to the next level
• Take calls, control your music,
  and activate Siri with RemoteTalk