It’s been reported that Apple is working on a subscription service that would allow customers to get an iPhone and other hardware products via a subscription service.
The iPhone subscription service would be like paying for a monthly app fee, as per the report from Bloomberg.
This could be a big move for Apple to push iPhone sales. Instead of just apps and software, this is one of the first times that hardware is being offered via a subscription service.
More than customers, this is also a welcome development to investors. Since the news broke out, Apple’s stock went up by 2%. In fact, investors have been pushing Apple to make such a move for a long time.
SEE ALSO: iPhone price list in the Philippines
The rumored hardware subscription service is identical to the auto-leasing program. It could be more appealing to customers who can’t stomach shelling out the full price outright or don’t want to pay for monthly installments or bundle it with a postpaid plan.
As per the report, the idea is to make buying an iPhone or iPad identical to how users pay for iCloud storage. Users may have to use the same account they use for Apple ID and App Store.
Unlike monthly installment plans, a subscription service means that customers don’t have to pay for the full price divided into 12 or 24 months. Instead, the monthly fee will depend on the chosen model.