iPhone Subscription Service in the Works
A recent Bloomberg report suggests that Apple’s subscription model will let you buy an iPhone or any other device simply by paying a monthly subscription fee, much like an Apple One or an Apple Music plan.
With this system, you will be able to purchase any Apple hardware product via the App Store and this whole setup would be linked to your Apple ID. It could also be an option on the company’s website or the retail stores during checkout.
This new strategy can prove to be Apple’s “biggest push yet into automatically recurring sales.” While trying to attract more and more users to increase the iPhone sales (which drives a major chunk of its revenue), Apple is also trying to help you own an Apple device without burning a hole in their pockets.
Now, if you think this will be like an EMI option, it won’t be the case. While EMIs split the overall cost of a product for you to pay over a defined period of time, this model will have a fixed subscription fee to be paid monthly. The fee will differ for different products and it from I can make out, would be interest-free, much like any other subscription service.
Another interesting bit is that this hardware subscription service could include Apple One and Apple Care+ plans to further make things lucrative. Although, I am not sure how this will impact these services’ standalone plans.
Plus, it will allow you to swap their existing devices with a new one when it releases every year. This will be in addition to Apple’s iPhone Upgrade Program, which is an option for people in the US to pay for an iPhone in installments and even upgrade to a new one without much trouble. This program is in collaboration with Citizens One Personal Loans. The company also provides installment options via various carriers in the US.
It appears like Apple’s attempt to be less dependent on third parties and provide such attractive services to people itself. And, it can work in its favor! Although, the details are yet to be known.
You should know that this idea is still in development and hence, we will have to wait for more details to surface. It could be introduced in late 2022 or 2023 but it might be ditched too. Hence, stay tuned for further updates to see where this goes, and do tell us about you feel about this in the comments below.
