Apple Discontinues iPhone Hardware Subscription Service, Directs Users to Third-Party Financing

Dec 18, 2024, 07:33 PM

Apple Inc. has discontinued its efforts to develop an iPhone hardware subscription service, a project that had been in development since around 2022. The service, which aimed to allow customers to pay a monthly fee for a new iPhone each year, was intended to change the way consumers purchase the company's flagship device. The project was overseen by Apple's Apple Pay group, which also shut down the Apple Pay Later program earlier this year. The decision to halt the subscription service was influenced by regulatory concerns and software issues, leading to the disbandment of the team and their reassignment to other projects. Apple is now directing customers to third-party financing options instead.