Apple will launch iPhone and iPad rental service?

This move is said to make owning one Iphone or iPad becomes as easy as paying a monthly app rental.

Bloomberg reports that Apple is planning to let customers sign up for their favorite product (i.e. iPhone or iPad) with the same Apple ID and App Store account that they use to purchase apps and subscribe to apps. different services. The plan will be different in that it will not break down the price of the device into 12 or 24 monthly installments. Instead, it will be based on the fee of the subscription service, which will then be based on the device the user has selected.

The report also says that Apple plans to let customers exchange their devices for new models as new iPhones and products launch as part of their upcoming hardware subscription service.

Furthermore, the report adds, the company is in internal discussions to tie the iPhone and iPad subscription service to its AppleCare technical support plans and the Apple One plan launching in 2020 and allow users to users subscribe to a range of Apple services like TV+, Arcade, Music, Fitness+, and iCloud storage among others.

Notably, Apple has been working on its iPhone subscription service for quite some time now. However, their plan to launch the service was shelved in favor of a faster rollout of the company’s “Buy Now, Pay Later” program. Now, the company expects to launch the service in late 2022 or early 2023.

It’s worth mentioning that this isn’t the first attempt by Apple to make its devices more accessible to users. In 2015, the company launched an iPhone Upgrade Program that allowed users to share the cost of an iPhone for 24 months. The program also allows users to upgrade to a new iPhone model every 12 months. Additionally, the company also allows Apple Card users to split the cost of an iPhone or Apple Watch over a 24-month period and the cost of an iPad or Mac over a 12-month period.

If announced, it would be the first time Apple has rolled out a subscription service similar to device rental. The service will not only make it easier for users to purchase its devices, the report said, but could also help the company generate more revenue.

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