The service will allow fans to pay a monthly fee to receive the latest Apple gadgets when they are released.
Sources told Bloomberg in a report published on Thursday that it could launch in late 2022 or early 2023.
Apple already runs monthly payment plans for gadgets — including iPhones and iPads — purchased from its website.
Customers of the program effectively spread the price of the device over a period of 12 or 24 months.
According to Bloomberg, the new service will be different in that it won’t just cover the cost of a device divided over 12 or 24 months.
Instead, members will still pay the indefinite monthly cost that may come with the option to upgrade to new hardware when it’s released.
Currently, Apple’s monthly plans don’t automatically roll over to new devices as they launch.
Bloomberg said the change would “make device ownership the same as paying for a monthly app fee”.
Like other Apple subscriptions, it will be tied to the user’s existing Apple ID account.
It’s possible that customers will have the option to bundle in AppleCare or Apple One services as well.
This can save you money in the long run with small discounts offered to people who combine the services into one subscription.
The iPhone plan is part of a campaign by the company to shift toward subscription services, which it sees as a largely untapped source of potential revenue. shutterstock
Apple has previously focused on selling iPhones at full price. New equipment can cost more than $1,000.
The iPhone remains the company’s biggest source of revenue, generating $192 billion last year.
The iPhone plan is part of a campaign by the company to shift toward subscription services, which it sees as a largely untapped source of potential revenue.
Customers of the program effectively spread the price of the device over a period of 12 or 24 months. Gabby Jones / Bloomberg via Getty Images
In 2020, the firm launched Apple One, which bundles many of its digital services together into a single subscription tier.
Users get access to Apple Music, Apple TV Plus, Apple Arcade, Apple News Plus and more for a monthly fee.
You can choose one of three tiers depending on how much you want to spend and who will be using it.
This story originally appeared on the sun and was reproduced here with permission