Apple has reportedly paused its efforts to launch an iPhone hardware subscription service, abandoning plans to alter how consumers purchase its flagship products. The concept aimed to allow users to subscribe to iPhones like apps, paying a monthly fee to receive a new phone annually. However, Apple has stopped this initiative, reallocating the team to other projects.
This decision is part of a broader transformation in Apple's payment services strategy. The hardware subscription service was managed by the Apple Pay team, which also discontinued the "buy now, pay later" service earlier this year. This service allowed installment payments, but Apple is now directing consumers to third-party programs.
Apple initially intended to launch the hardware subscription service by the end of 2022, but software issues and regulatory challenges delayed it to 2023 or later. Before its cancellation, the project had been reverted to the design phase by company executives.
