Apple’s iPhones aren’t cheap and buying one is committing yourself to spending a fair amount of money, but Apple could potentially make it an easier pill to swallow. According to a report from Bloomberg, it seems that Apple is apparently working on a new subscription program, except that instead of software or services, it will be for hardware.
As you might have guessed, what this means is that instead of customers paying upfront the full price of the phone or locking themselves into a carrier contract, they will let customers own an iPhone by subscribing to a program. This will make it easier for customers to own an iPhone, plus it might also allow Apple to tie it into their other services like Apple One and AppleCare.
The report from Bloomberg claims that the project is still in development so it might be a while before we learn about it. It is an interesting idea and one that we have heard rumors about in the past, although we have to wonder how Apple will handle it and how they might deal with potential runaways.
However, assuming they pull it off, it might end up being a massive revenue generator because it would lock customers into the iPhone ecosystem and their services for longer, plus it could also attract new customers who might have been put off by the price of a new iPhone.