Apple has yet to be able to start the rumored iPhone hardware subscription program because of engineering problems. However, the program may begin in March or April.
Early in 2022, it was said that Apple was still working on bringing its Services model to its hardware business by selling iPhones and other devices for a monthly fee. But 2023 could be long before such a service is available.
Mark Gurman says that Apple is working on four fintech projects in the “Power On” newsletter for Bloomberg that came out on Sunday. Apple has announced two: Apple Pay Later and the Apple Card Savings Account. However, “Apple Pay Monthly Installments” and the iPhone subscription program are still in the works.
The subscription was supposed to come out with the iPhone 13 in 2021 or the iPhone 14 in 2022, but “engineering and technical setbacks” have slowed progress and caused Apple to miss deadlines.
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Apple hasn’t been able to start the rumored iPhone hardware subscription program yet because of engineering problems. However, the program may start in March or April.
Early in 2022, it was said that Apple was still working on bringing its Services model to its hardware business by selling iPhones and other devices for a monthly fee. But in 2023, it seems like it could be long before such a service is available.
Mark Gurman says that Apple is working on four fintech projects in the “Power On” newsletter for Bloomberg that came out on Sunday. Apple has announced two: Apple Pay Later and the Apple Card Savings Account. However, “Apple Pay Monthly Installments” and the iPhone subscription program are still in the works.
The subscription was supposed to come out with the iPhone 13 in 2021 or the iPhone 14 in 2022, but “engineering and technical setbacks” have slowed progress and caused Apple to miss deadlines.
Apple is still working on the iPhone subscription and the Monthly Installments project. It is clear, he says, that “the financial push has turned out to be harder than expected.” This is partly because Apple is working on “Project Breakout,” a platform for its financial services that will include “checks, approvals, and transaction histories” that its other financial service partners usually take care of.
Even though Monthly Installments and an iPhone subscription sound similar, they are not the same. The monthly charge for the iPhone hardware program “won’t be the price of the device divided by 12 or 24 months.”
Instead, it would be a “yet-to-be-determined monthly fee that depends on which device the user chooses,” not a fee that would guarantee the user would eventually own the device.
iPhone subscription could come out in March or April if Apple is still working on it.
The post Apple’s iPhone Hardware Subscription Set to Launch in March appeared first on Asume Tech.
from Technology - Asume Tech https://asumetech.com/apples-iphone-hardware-subscription-set-to-launch-in-march/
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