Apple seems to have postponed its plans to introduce a subscription service for iPhone hardware due to economic inexpediency, UNN reports citing Bloomberg.
Details
Apple has stopped developing an iPhone subscription service, according to sources. The concept of such a service first appeared in 2022. It provided for the possibility of monthly payment for the use of the iPhone, in effect renting the device with the right to upgrade to a new model after its release. However, the launch, scheduled for the same year, was postponed due to software and legal issues.
Apple's subscription service had some similarities to the iPhone Upgrade Program, which has been in place since 2015. As part of this program, customers sign a two-year contract for monthly payments starting at $39.50 per month for the iPhone 16 (128 GB). After 12 payments, they can upgrade the device by signing a new contract or complete the plan and become full owners of the phone.
Unlike the iPhone Upgrade Program, Apple's planned subscription service was built on a lease model that required the return of the device at the end of the contract without the possibility of a buyback.
Recall
For the first time in a long time, Apple Watch lost its position as the leader in the wearables market. However, with the release of the new Series 10 model, Apple's smartwatch temporarily returned to the top spot in the third quarter of 2024.