Apple corporate executive Tim Cook is exploring the concept of the iPhone on a subscription basis. The company is reportedly considering modify from a conventional model to a subscription model in a very bid to revive iPhone sales.
Apple chief operating officer Tim Cook is exploring the concept of commercialism the iPhone on a subscription basis. According to a CNBC report, the Cupertino company is considering to modify from a conventional model to a subscription model.
That would allow Apple to sell its iPhones to new customers through a subscription model, similar to Amazon Prime.
On its this fall earnings call, Associate in Nursing analyst asked Tim Cook if there was an occasion that the corporate would possibly bundle hardware and services into a subscription service, and he said that the model was already in effect.
Cook was touching on Apple’s upgrade program, a form of service that permits customers to upgrade to a replacement iPhone every year once paying for twelve months. After twelve months of payments square measure created, customers will trade their recent iPhones in and upgrade to a replacement iPhone.
The program, that has been existing since 2015, is already boards America. While Cook failed to specifically specify what quite bundle the corporate would possibly introduce within the close to future, he did mention that Apple is working hard to make it easier for users to obtain their iPhones on a monthly basis.
Apple is slowly shifting to services under the leadership of Tim Cook. Apple’s services business brought in $12.5 billion. While services ought to facilitate Apple to stay its revenue targets in restraint, but the iPhone still matters a lot to the company.
Apple recently created its Apple TV+ video streaming service sleep in major markets, including India. The service that costs Rs 99 a month, will be free for a year to anyone who buys a new iPhone, iPad, Apple TV, iPod touch or Mac.