Apple is working on launching a hardware subscription service for iPhones and iPads. The move is expected to make owning an iPhone or an iPad as easy as paying monthly rentals for an app.

Bloomberg reports that Apple is planning to enable customers to subscribe to their preferred hardware (that is, iPhones or iPads) with the same Apple ID and App Store account that they use to buy apps and subscribe to various services.

For Apple, subscriptions have been extremely important. They contribute heavily to Apple’s overall revenue. But so far, subscriptions have been available on Apple’s software services, such as Apple Music, iCloud, Apple TV Plus, Apple Fitness Plus, and Apple Arcade. Apple also offers the Apple One bundle that comprises subscriptions of some of its software services into a single subscription for a monthly fee.

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Apple is working on a new Subscription Service

Selling hardware products through subscriptions will be Apple’s biggest push into subscription services as a whole. And just like its software services, the iPhone will tie to Apple One subscription bundle.

The report also says that Apple has plans of allowing customers to swap out their devices for new models when fresh hardware comes out as a part of its upcoming hardware subscription service

The program would differ in a way that it wouldn’t split the price of the device across 12 or 24 monthly installments. Instead, it would be based on the fee of the subscription service, which in turn would be based on the device that the user has chosen.

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Notably, Apple had been working on its hardware subscription service for quite some time now. However, its plans of launching the service put on hold in order to launch the company’s ‘Buy Now, Pay Later’ program more quickly. Now, the company will be going to launch the service at the end of 2022 or early in 2023.

Apple Subscription service will be going to tie to a user’s Apple ID account

The iPhone-based subscription service will be going to tie to a user’s Apple ID account, just like other subscriptions. That could possibly also include AppleCare or Apple One services just so the user would not have to pay for them separately.

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Apple currently allows customers in select markets to finance the purchase of hardware products through an Apple Card. There is also the iPhone Upgrade Program through which customers, again, in select countries, can get a new iPhone every year without having to pay any additional costs. It also has subscriptions for AppleCare extended warranties. These might as well be considered hardware subscriptions, but Apple’s new subscription would not just simply be an EMI option.

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