Apple is working on a subscription service for devices including the iPhone, Bloomberg news agency reported. Instead of paying hundreds of euros once for a new phone or tablet, the device can be paid monthly. The technology group is expected to make this service available at the end of this year.
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Apple already works with monthly payments for music service Apple Music and cloud service iCloud. This new service would look like, you can compare it with leasing a car. It would also help consumers because they have to pay less money in one go for a new device.
Apple could generate more revenue through this step. Recently, the company also came with a budget-friendly iPhone. With this, the technology company seems to be becoming more aware of the payment problem that may be playing in the minds of consumers.
switch iPhones
Apple has been working on this project for several months, with discussions also about letting customers switch devices as soon as a new version comes out. This usually happens every year.
The project is still in development, according to Bloomberg sources, and is expected to be available by the end of 2022 or early 2023. The price of a device is spread over 12 or 24 months and the monthly amount will depend on the type of device.
