Apple has a lot of subscription services like Apple Music, Apple TV+, Apple Arcade, iCloud+, and more. A new subscription service is reportedly in the works at the company now.
According to a report, there is a possibility that Apple will turn the iPhone and other hardware products into something more like a lease instead of buying them outright.
Currently, Apple offers a subscription-like iPhone Upgrade Program that allows customers to pay off their iPhones over a period of 12 months, and then upgrade to a new one at the same price.
Apple wants to make purchasing an iPhone or iPad as straightforward as paying for iCloud or Apple Music. Customers will be able to purchase hardware using the same Apple ID and App Store account they use to buy apps and subscribe to services.
In contrast to an installment program, the monthly price will not be based on the cost of the device split over 12 months or 24 months. Instead, the user will be charged a monthly fee according to their device.
The launch is scheduled for the end of 2022, but it could be delayed until 2023. Additionally, the report cited its sources as saying that the subscription model may even be cancelled.