Power On: Apple's iPhone Subscription Service

Apple is developing a subscription service for iPhones, allowing users to pay monthly through their App Store account. This service differs from traditional installment plans by offering a proprietary price based on the iPhone model, enabling users to upgrade annually. The initiative aims to increase Apple's recurring revenue while providing consumers with more frequent access to new iPhones without the upfront cost. Apple is also considering integrating this service with Apple One and other offerings. The launch is anticipated in late 2022 or 2023.

What additional services might be tied to the iPhone subscription program?

When could Apple potentially launch the hardware subscription service?