Apple News
Bloomberg reported that Apple is developing a hardware subscription service
Potential iPhone users can purchase through a subscription model
According to a Bloomberg report, Apple is developing a hardware subscription service so that potential iPhone users can buy smartphones through a subscription model, similar to how iCloud storage is purchased.
Apple's subscription model will allow people to buy hardware products such as iPhones and iPads in a "similar monthly app fee," the report said. For companies that currently allow customers to use it, this will be a big step forward by upfront or by using the Apple Card platform to buy hardware.
Apple is developing an iPhone and hardware subscription service that will launch next year, and it could be bundled with the Apple One bundle and AppleCare. Apple's major shift on the way.
The report is based on information provided by anonymous sources familiar with Apple's plans. It said Apple's subscription service could start in late 2022 or early 2023. The subscription model will be the brand's most important boost to recurring sales, the report said.
This is touted as a big step for Apple as it will make it easy for those who can't afford a one-time payment or the risks associated with financial choices to get their premium hardware offerings. The report adds that little is currently known about the project. It's not even clear if it will be tied to Apple's iPhone upgrade program.