Apple has apparently shelved its subscription plans for iPhone hardware. That’s right — the last thing anyone needs in this economy is yet another recurring expense.
Bloomberg reports that Apple is no longer operating its iPhone subscription service, according to sources close to the matter. Rumored to start in 2022, the tech giant’s hardware subscription would give customers the option to pay a flat monthly fee to lease their iPhone. They will also be able to upgrade to the latest iPhone as new models are released.
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The iPhone subscription service was reportedly scheduled to launch the same year as the leak, but was delayed due to issues such as software issues and legal concerns. Now it seems that the service will not come at all.
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Judging by the few details that have surfaced, Apple’s proposed subscription service seems to have some similarities to its iPhone Upgrade program. Introduced in 2015, the program allows customers to enter into a two-year monthly payment plan for their iPhone, with current plans starting at $39.50 per month for the 128GB iPhone 16. After 12 payments, they can upgrade their capabilities. phone when the next model arrives, it includes a new loan.
However, the iPhone Upgrade Program allows customers to own their devices once they complete the payment plan. In contrast, the service planned for Apple in the past felt very similar to renting a service, and customers were expected to return their iPhone if they canceled their subscription.
Apple also discontinued its Apple Pay Later service earlier this year, a possible indication that the company is revising its financial products. First announced in 2022, Apple Pay Later was a Buy Now Pay Later service that allowed customers to split payments into multiple small installments spread over several weeks.
