Apple Inc. will launch a hardware subscription service for the iPhone and other hardware products, a move that will make device ownership similar to paying a monthly app fee.
Bloomberg reported that it would be different than the iPhone Upgrade program that allows you to pay for the iPhone in 24 monthly installments.
Under the hardware subscription service, the device is yours once you have paid it fully.
The hardware subscription service would differ from a regular mobile phone plan in that it would not be the price of the hardware split across 12, 24, or 36 months.
Instead, Apple would charge a flat monthly fee based on the hardware that the Apple user selects. The hardware subscriptions could incorporate the Apple One bundle or AppleCare+.
The new hardware subscription service is expected to launch by the end of 2022 or in 2023.
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