Similar to how Amazon Prime bundles various services for a monthly subscription, Apple is reportedly working on a similar model for the sale for future iPhones.
According to a report by CNBC, Apple CEO Tim Cook recently hinted that the company may replace the traditional sale model with a subscription-based model soon. The purported service may be called Apple Prime.
At the recent Q4 earnings call, the company chief reportedly told a CNBC reporter that Apple is working hard to make it easier for users to pay for their iPhones on a monthly basis.
Per the report, Apple will bundle all of its services like Apple TV+, Apple Arcade, Apple Music, Apple Pay, along with the iPhone for a monthly fee.
Currently, Apple offers an upgrade program for its users, a service that allows customers to upgrade to a new iPhone each year ” after paying for 12 months. After the customers complete the 12 months payments, they can trade their old iPhones with the latest one. This upgrade program, launched in 2015, is only available in the US.
Recently, Apple launched the new Apple TV+ video streaming service in major markets, including India. The service went live on 1 November. The service costs Rs 99 a month for all users. And for anyone who buys a new iPhone, iPad, Apple TV, iPod touch or Mac, they will get a year-long subscription of Apple TV+ with it for free.