Apple 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.
or Apple Card Monthly Installments, where you pay off a new phone or other Apple device with monthly payments, and in some cases get the option to upgrade to a new device without changing your subscription fee. Unlike those payment methods, which apply your payments to a one-time loan from either Citizen One or Goldman Sachs, Apple ’s subscription was going to be managed through an Apple account and use whatever payment methods you already have connected.
Apple’s expectation was that if it fronted the cost for an iPhone directly, people would upgrade more often and increase the company’s recurring revenue. The problem is that much like Apple Pay Later, which let you split Apple Pay purchases into four smaller installments, the hardware subscription might have required Apple to “follow the same regulations as credit card companies,”There’s also the potential strain a hardware subscription could put on Apple’s relationships with carriers.
Apple’s hardware subscription was never officially announced, but it reflects what could be a larger retreat from the headaches of financial services. Apple Pay Later wasand replaced with access to Affirm loans in Apple Pay as part of iOS 18. The Apple Card is also reportedly in limbo as Apple searches for a partner
APPLE Subscription Hardware Iphone Finance
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple Cancels Hardware Subscription ServiceApple has reportedly abandoned plans for a hardware subscription service that would have allowed customers to pay a monthly fee for access to new iPhones. The program faced setbacks including software bugs, regulatory concerns, and other issues, ultimately leading to its cancellation.
Read more »
Black Friday Apple deals 2024: The best Apple sales on iPads, AirPods, Apple Watches and MacBooksAmy Skorheim has an English degree from UCLA and has been a commerce writer for six years, covering tech, men’s gear and outdoor paraphernalia. Her work has appeared in publications that include Futurism, Digg and Huckberry. After four years as the managing editor of GearMoose, she joined the commerce team at Engadget in 2022.
Read more »
Apple Cancels iPhone Subscription ServiceApple has scrapped plans for a hardware subscription service that would have allowed users to pay a monthly fee for a new iPhone every year.
Read more »
Apple Reportedly Abandons Plan for iPhone-as-a-SubscriptionThe now-dead plan was for people to pay a monthly fee to get a new iPhone every year.
Read more »
Apple’s Lightest MacBook Air Now Matches Cyber Monday Price, Just in Time for ChristmasA rare 20% discount on premium Apple hardware.
Read more »
WSU's apple breeding program introduces new Sunflare appleThe apple breeding program at Washington State University has cultivated a new addition to their fruity lineup.
Read more »