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The iPhone might soon become available via a subscription model with payments made to Apple on a regular schedule. This is an interesting and potentially exciting proposition that could entice many more buyers to finally lay hands on one of the more expensive models, like the iPhone 13 Pro or 13 Pro Max. The success or failure of such a plan would depend greatly on the finer details and it would certainly need to be less expensive than buying.
Apple is known for extensively marketing its products, highlighting every little detail and making it perfectly clear why its products are the best available at any price point. Of course, the most expensive model is the best and offers some significant benefits over the rest. In the case of the iPhone 13 Pro Max, its much larger screen and greatly increased battery life make it the most desirable, even though every iPhone 13 model features the same A15 processor as the third generation iPhone SE. More cameras and a better screen clearly make the iPhone 13 models the top pick for most customers if it is within their budget.
Pricing is a major factor for users considering which iPhone to order, and some might wait a few years before upgrading to the latest model. It’s a fact the iPhone is among the most expensive smartphones in the market. Apple could be working on a way to change that or at least change the perception of that cost. According to a recent Bloomberg report, Apple is considering a subscription plan to allow customers to keep and use an iPhone. This is supposedly launching as early as 2022 or sometime in 2023 at the latest. Customers will reportedly be able to use their Apple ID account to subscribe to the iPhone, just as they would use it to buy apps or subscribe to services. The subscription option would be in addition to the currently available payment plans from carriers and Apple’s own interest-free installment offer, yet different in some important ways.
Why Subscribe To An iPhone?
According to Bloomberg, Apple’s iPhone subscription plan would not simply be the price of the device divided by 12 months or 24 months. That’s the case with the interest-free installment plan. For example, a $1,099 iPhone 13 Pro Max paid in installments over a 24 month period would cost $45 each month. On a subscription model, the same iPhone might have a lower subscription cost. There are plenty of unknowns, such as whether a subscription can be canceled at any time or if there is a minimum commitment required.
With this subscription model, the iPhone would never be owned by the customer. It would still be Apple’s property and the subscriber would only have access to it while paying. It seems likely that Apple would require the purchase of Apple Care or build in some sort of insurance coverage since any damage would be made to Apple’s property, not the user’s. The key to the success of such a subscription plan would be to keep it affordable and if that isn’t possible, Apple likely won’t bother offering this option. If a subscription plan does arrive as a way of getting an iPhone 14 or 15, the very best iPhone technology could become available to more people than ever, and give Apple an even larger share of the U.S. smartphone market.
Source: Bloomberg
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