According to a new Bloomberg report, Apple intends to sell iPhones and iPads as a hardware subscription plan. This service could be available as early as next year and fit in with Apple’s overall push toward subscription services. The Cupertino behemoth currently offers subscriptions to Apple Music, TV Plus, News Plus, Fitness Plus, and Arcade. Let us know more about it in detail.
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These individual services are also available in the Apple One subscription plan. On the hardware front, we saw a similar shift in 2019 when the company introduced a monthly subscription model for its AppleCare extended warranties.
Since 2015, it has also provided the iPhone Upgrade Program, which allows customers to pay for the combined cost of AppleCare and an iPhone over 24 months with the option to trade in the device after 12 months.
More on Apple Subscription Service
According to Bloomberg, the monthly instalment will not be the device’s price divided by 12 or 24 months, but rather an undetermined monthly cost with the option to upgrade to new hardware as it becomes available.
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Like Apple’s other subscriptions, it would be linked to the user’s existing Apple ID account, with the option to bundle AppleCare or Apple One services as well. Users can currently pay monthly services and monthly instalments for iPhone, but not both at the same time. It’s still necessary to manage separate fees and plans.
It’s fascinating to see lending phones out every month. For example, ‘subscribe for an iPhone similar to Apple TV Plus or Music.’ We’re curious to see if customers will spend months of money renting a device only to return it at the end of the term.
Company may intend to cut out the middleman and expand its installment-based payment options to other products. Customers can use the iPhone Upgrade Program. In order obtain an interest-free loan from Citizens One and repay it over 24 months.
Then there’s the Apple Card instalment programme, which is interest-free but only available to a select group of Apple customers. A subscription service could assist the company in expanding it to other products such as iPads, MacBooks, and so on.
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Varushi Yadav
I'm a 4th-year law student at the University of Petroleum and Energy Studies, along with that I'm a creative content writer. So far I have written law-related articles, I like to explore more and I'm always ready to learn more.