Apple reportedly cancels iPhone hardware subscription service after months of speculation

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Apple has reportedly ceased development on a standalone iPhone hardware subscription service; however, the objectives of this initiative have largely been met through the existing iPhone Upgrade Program.

Speculation regarding an iPhone hardware subscription service gained traction in 2022, following several years of conjecture. It is said that the program’s prototype involved a monthly fee for customers, akin to App Store transactions, with loans potentially provided by Apple itself.

Two years ago, Apple was actively testing this program internally. In September 2022, there were expectations that the service would be launched for users by the end of that year.

The recent announcement regarding the program’s cancellation also indicates that Apple will now guide customers towards third-party loan options. Additionally, there are installment plans available through the Apple Card and the iPhone Upgrade Program, both of which continue to operate and are not anticipated to be discontinued.

The iPhone Upgrade Program functions similarly to the proposed subscription service; however, it is financed by Citizens Bank NA rather than Apple. Under this program, eligible participants pay a monthly fee to receive the latest iPhone model each year, allowing for a new device every 12 months.

While upgrading is not mandatory, participants must complete 12 monthly payments before they can do so. Consequently, depending on the timing of enrollment, some individuals may find themselves ineligible to upgrade on the launch day of a new phone due to shipping and availability constraints.

Initially, the process mirrors that of purchasing a new iPhone, with the first potential deviation occurring at the carrier selection stage. If a participant chooses to activate with a carrier later, they will forfeit the option to utilize the iPhone Upgrade Program.

Also Read: Apple Watch set to introduce blood pressure monitoring feature by 2025



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