Apple ditches plan to launch iPhone subscription service

As early as 2022, there were rumors that Apple was developing an iPhone subscription service. The program is designed to provide participants with Latest iPhone models Appropriate monthly fees, payable over one or two years. Unfortunately for those who followed it, it seems that this service is no longer possible.

according to Bloomberg“Apple has halted a project to build an iPhone hardware subscription service, […]abandoning attempts to change the way consumers buy its flagship devices. People who don’t want to pay their entire bill up front can still choose to pay via Apple Card or in monthly installments US carrier discounts. Alternatively, they can choose Apple’s existing iPhone upgrade plan.

For those unfamiliar, the iPhone Upgrade Program allows members to own the latest model annually for $39.50 per month, paid over two years. Once the equivalent of 12 months is paid, eligible users can trade in existing models and upgrade to newly released models. The bundle also includes other benefits, including AppleCare Plus coverage, and eliminates the need to commit to a single carrier. If you don’t upgrade every year, you can keep your iPhone after completing 24 installments.

Unlike the iPhone upgrade program, canceled service may leave subscribers with Latest flagship store With a low monthly fee. Customers essentially rent iPhones from Apple as long as they pay, but they never actually own the hardware. It may appeal to those with a lower budget or curious users who want to try out iOS for a short period of time.

According to the report, Apple canceled the program for the same reason it canceled its in-house Pay Later service: Stricter Consumer Financial Protection Bureau rules could have applied, and the company was trying to avoid increased scrutiny.