Highlights:
- Apple’s iPhone and iPad subscription service is set to begin in late 2022 or early 2023.
- With the proposed plan, Apple aims to allow customers to swap out their iPhones for new models when new hardware is introduced.
Apple Inc. is planning to launch an iPhone and iPad hardware subscription service. The move is intended to make buying an iPhone or iPad as simple as renting an app on a monthly basis.
According to Bloomberg, Apple intends to allow customers to subscribe to their preferred hardware (i.e., iPhones or iPads) using the same Apple ID and App Store account they use to purchase apps and subscribe to other services. The program would be unique in a way that the device’s price would not be split over 12 or 24 monthly instalments. Instead, it would be decided by the subscription service fee, which would be decided by the device chosen by the user.
According to the report, Apple’s planned hardware subscription service would allow customers to swap out their devices for new models when new hardware is released.
Furthermore, the report claims that Apple is going to consider attaching the hardware subscription service to its AppleCare technical support plans and Apple One bundles, which were introduced in 2020 and allow users to subscribe to a variety of Apple services including Music, TV+, Fitness+, Arcade, and iCloud storage, among others.
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Apple had been working on its hardware subscription service for quite some time. However, the company’s intentions to introduce the service were put on hold in order to speed up the debut of its ‘Buy Now, Pay Later’ program. The service is now anticipated to launch the service in late 2022 or early 2023, according to the company.
It’s worth mentioning that this isn’t the first time Apple has tried to make its devices more accessible to users. In 2015, the company introduced the iPhone Upgrade Program, which allowed customers to spread the cost of an iPhone over 24 months. It also allowed consumers to upgrade every 12 months to a new iPhone model. In addition, Apple Card users can divide the cost of an iPhone or Apple Watch over 24 months and the cost of an iPad or Mac over 12 months using the Apple Card.
If announced, Apple will be the first company to provide a subscription service similar to leasing a device. According to the report, although it would make it easier for people to purchase its devices, it could also help the company generate more revenue.
