If Apple is working on a hardware iPhone subscription service, it will allow customers to pay a monthly charge. All to get the newest iPhone model each year. In comparison to when customers buy a new update for their old iPhone model, a recent analysis claims that the corporation may make even more money for itself. As long as they keep updating, buyers won’t have to spend a lot of money up front to get a new iPhone.
Mark Gurman, a Bloomberg analyst, predicts how much money Apple might make from a subscription service for its devices, even though the Cupertino firm has yet to reveal plans for such a programme. Over a three-year subscription term, Apple could potentially make several hundred dollars more than the average selling price of a new iPhone and the initial cost of a smartphone.
Due to Apple’s newest iPhone models’ excellent hardware and software support, most customers keep their iPhones for longer periods than previously thought possible. On the other hand, some smartphone users make the annual investment in a new model, which may be costly. According to Counterpoint Research, each iPhone sells on average for $825. (roughly Rs. 62,300).
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By charging $35 (approximately Rs. 2,700) a month, the research believes that Apple could generate more money than the average selling price (about $1,260) by selling an Apple iPhone 13 for $799. (roughly Rs. 60,300). According to Gurman’s research, users wait for three years in the US before upgrading their iPhones.
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By charging $45 a month for the $999 Apple iPhone 13 Pro, Apple stands to make approximately Rs 3,400 in three years, or about $1,620 (approximately Rs 1,22,200). (roughly Rs. 75,400). A monthly membership cost of $50 (approximately Rs. 3,800) for the Apple iPhone 13 Pro Max would bring in an additional $1,800 (about Rs. 1,35,800) for the corporation (roughly Rs. 82,900).
A recent study claims Apple profits over 40 per cent on iPhone hardware and might benefit from people returning their old devices, which could then be repaired and sold again. If a client stays in the programme for ten years, Gurman estimates that they’ll bring in $4,020 (approximately Rs. 3,02,000) in income. On the other hand, customers will save money since they won’t have to buy a new iPhone every year.
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According to a report, Apple was likely to be working on a service that would enable customers to pay for Apple Pay goods overtime in July 2021. In addition, a financial back-end and payment processing system developed by the firm itself, independent of other parties, is currently being developed by Gurman. However, as previously reported, Apple has yet to make public announcements about its upcoming mobile hardware subscription service.
Ritika Sharma
I write as a writer, as someone very familiar with the Internet, as someone who is completely at ease with current technology and the way it is transforming the social fabric of the globe, the business world in particular, and as a former web developer.