Cupertino-based giant Apple has a lot of subscription services like Apple Music, Apple TV+, Apple Arcade, iCloud+, and more. Now, however, the company is reported to be working on a different kind of subscription service. According to an industry report, Apple is looking to venture into hardware subscriptions. According to a report in Bloomberg, Apple is working on a subscription service for iPhone and other hardware products, which could turn them into something more similar to a lease instead of paying off a purchase.
Apple currently also has a subscription-like iPhone Upgrade Program that allows people to pay off an iPhone over the course of 12 months, and then upgrade to a new iPhone at the same price. The cheapest option is $35.33 per month for the iPhone 13 Mini (roughy Rs 2,700) and goes up to $74.91 for the top-spec iPhone 13 Pro Max (roughly Rs 5,700). The Bloomberg report says that if the new subscription model is launched, it will come as the biggest push yet into automatically recurring sales, allowing users to subscribe to hardware products for the first time.
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The report cited people familiar with the matter saying that the project is still under development. Having a subscription-based plan may make it easier for buyers to get their hands on Apple products, that are often deemed too expensive for most users. It could also help Apple generate more revenue.
The idea, according to the report, is to make the process of buying an iPhone or iPad as easy as paying for iCloud or an Apple Music subscription. Apple is planning to let customers subscribe to hardware with the same Apple ID and App Store account they use to buy apps and subscribe to services, the report said. It said that the program will differ from an installment program because the monthly price won’t be the cost of the device split in 12 months or 24 months. Instead, it will be a monthly fee depending on the device a user is picking.
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The subscription service, according to Bloomberg, is expected to be launched by the end of 2022, but it could be delayed to 2023. The report also quoted its sources as saying that the subscription model could even end up being cancelled.
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