Apple is Rumored to be Working on a Subscription Service for iPhone Hardware.

Other Gadgets may be Qualified as well.

Apple's iPhones and other devices have become increasingly expensive, and the company may be attempting to mitigate the impact by utilizing alternative sales models. According to Bloomberg, Apple is working on a subscription service for the iPhone and other devices. You'd pay a monthly fee rather than an up-front cost or subsidized instalments, similar to the iPhone upgrading program. Your Apple account would "likely" be used to administer the subscription.

As of this writing, there were no specifics on what will be included, but the service would feature regular improvements and start in late 2022 or early 2023. Also unknown is the cost. Apple's current upgrade program needs a monthly payment of $35 or more to receive both yearly iPhone upgrades and AppleCare+ coverage.

Apple has already stated that it will not comment. To be clear, the corporation hasn't been hesitant about going toward subscriptions. Apple Music, TV+, and Fitness+ are among the company's fastest-growing revenue streams, helping to smooth out the ups and downs of seasonal sales cycles as well as a relatively stable phone market. A broader hardware subscription service would broaden this strategy, as Apple would be able to bank on a more consistent revenue stream, especially from customers who would otherwise wait longer to replace their devices.

According to reports, Apple is working on a new subscription service unlike anything it has done before. This subscription isn't for services or software; it's for hardware, and you could receive a future iPhone by paying a monthly fee rather than purchasing it altogether.

People would be able to pay for iPhones and other electronics via a monthly subscription for the first time, according to Bloomberg's Mark Gurman. The project is believed to be in development, which means it could alter or be scrapped entirely, but Gurman claims that it is currently being worked on.

According to sources familiar with the matter, Apple Inc. is working on a subscription service for the iPhone and other hardware devices, a move that could make gadget ownership akin to paying a monthly app fee.

The iPhone Upgrade Program, which is now available from Apple, allows users to do something similar. It's unclear how this new service would vary, but it's probable that users would just pay a monthly charge and receive whatever iPhone is currently available. Expect several tiers to get customers into either the basic or Pro versions of the devices - imagine iPhone 13 and iPhone 13 Pro, for example.