Apple is reportedly preparing an iPhone subscription service that could launch this year

▤ Summary

Apple is preparing a hardware subscription service for iPhones that could launch as soon as the end of this year, Bloomberg reported Thursday. The service would allow customers to buy an iPhone through monthly payments, similar to how users currently subscribe to iCloud, according to the report. The move would represent the culmination of a longtime Apple investor desire for the company to sell its hardware as a subscription. Apple execs including CEO Tim Cook have told investors to closely watch its services business, which reported $68.4 billion in sales in 2021, growing 27%. He didnt shoot down the idea and suggested that Apple was working on similar products and something like it was already in effect.

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Apple Inc.

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