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Apple’s rumored iPhone hardware subscription may finally be on the horizon, with a potential launch in March or April, according to reports. The subscription was first reported in early 2022 and was expected to be introduced the following year, but engineering issues have delayed the launch.
According to a recent article in Bloomberg’s “Power On” newsletter, Apple is currently working on four fintech projects, including the iPhone subscription program. The company is also developing “Apple Pay Monthly Installments” and the Apple Card Savings Account, among others.
Despite the challenges, the iPhone subscription program is still underway at Apple, according to the report. The project is said to be facing difficulties due to the development of an underlying platform for Apple’s financial services, known as “Project Breakout”.
However, the iPhone subscription program and the Monthly Installments project are different in nature. While the monthly fee for the Monthly Installments program will be the price of the device split over a certain number of months, the monthly charge for the iPhone hardware program will be a yet-to-be-determined fee based on the device chosen by the user, and not necessarily result in the user eventually owning the device.
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The possibility of an iPhone subscription program has been a topic of much speculation in the tech community. If the reports are accurate, it seems that Apple is still committed to bringing its Services model to its hardware business, and the launch of the iPhone subscription program could be just around the corner.
