Apple has abandoned plans for a subscription program that would have enabled users to get a new iPhone annually for a monthly fee. The project, initially overseen by the Apple Pay team, faced technical challenges and was ultimately scrapped.
Apple shelved plans for a subscription service that would have allowed users to pay a monthly fee to receive a new iPhone every year. Bloomberg's Mark Gurman reported that the project was overseen by Apple Pay team, which also recently closed an in-house 'buy now, pay later' service. Apple aimed to launch the iPhone subscription service at the end of last year but faced several issues, including software bugs, leading them to postpone the launch.
Eventually, Apple decided to cancel the project altogether. The subscription service would have been handled in-house by Apple, and the loans provided to buy iPhones would have been floated by the company. Earlier this year, Apple allowed members of its Apple Pay team, along with those working on App Store billing and Apple's online store, to test the service. Apple already operates the iPhone Upgrade Program, which allows subscribers to get a new iPhone every two years by spreading the cost over 24 monthly payments
APPLE IPHONE SUBSCRIPTION TECHNOLOGY CONSUMER ELECTRONICS
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Apple's Hardware Subscription Plans Seemingly ShelvedApple was reportedly planning to offer a hardware subscription service that would allow users to pay for new iPhones and other devices in monthly installments. This service would have been managed through an Apple account and would have aimed to increase user upgrades and recurring revenue. However, the plans seem to have been shelved due to regulatory concerns and potential strain on relationships with carriers. This follows a trend of Apple retreating from financial services, as seen with the discontinuation of Apple Pay Later and the reported uncertainty surrounding the future of Apple Card.
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