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Apple is about to “rent” iPhone – Hi-tech Fashion

Friday, March 25, 2022 12:00 PM (GMT+7)

Apple is said to be working on a subscription service that will allow users to purchase iPhones and other hardware products for a monthly fee.

The Services will be Apple’s biggest push yet into the company’s recurring revenue streams, essentially turning its Services model into a profitable hardware business every year. However, the project is still under development and the initiative has yet to be announced.

Apple is about to

In addition, the report from Bloomberg adds that Apple’s hardware rental service can also link with existing Apple services such as Apple One and AppleCare.

This isn’t the first time Apple has been rumored to be working on a hardware rental service. Analysts have long argued that such a service would be a good fit for Apple’s business.

The report doesn’t elaborate on how the service will differ from Apple’s current iPhone Upgrade Program, or whether people will buy the device with a monthly payment using an Apple Card or through a carrier.

Apple is about to

Although designed for the same purpose, the above services have a certain difference. For example, with the Apple Card monthly payment service and the iPhone Upgrade Program. With Apple Card payments, users are not required to purchase AppleCare. At the end of the payment, the user owns their device if purchased with an Apple Card. In the iPhone Upgrade Program, users have the option to exchange their device after 6 months or 12 payments.

Finally, the report says that Apple’s iPhone rental service is expected to launch in late 2022 at the earliest.

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