SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Nvidia Develops New Location-Verification Technology for AI Chips 
EssilorLuxottica Bets on AI-Powered Smart Glasses as Competition Intensifies 
US Charges Two Men in Alleged Nvidia Chip Smuggling Scheme to China 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
Trump Signs Executive Order to Establish National AI Regulation Standard 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Australia Enforces World-First Social Media Age Limit as Global Regulation Looms 
IBM Nears $11 Billion Deal to Acquire Confluent in Major AI and Data Push 
SK Hynix Labeled “Investment Warning Stock” After Extraordinary 200% Share Surge 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
SK Hynix Shares Surge on Hopes for Upcoming ADR Issuance 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
EU Court Cuts Intel Antitrust Fine to €237 Million Amid Long-Running AMD Dispute 
The cost of new iPhones in recent years may have been one of the factors that many people are holding off on switching to an Apple smartphone. But it appears that the company is working on a subscription-based payment plan that could eliminate such concern in the near future.
Apple is said to be developing a new subscription program that would offer its hardware products such as iPhone and iPad for a monthly fee, Bloomberg’s Mark Gurman reports. The project is still in development, but the company is reportedly planning to make the subscription plan available with Apple ID and App Store account, which are usually linked to a customer’s debit or credit card. The report also expects the subscription plan to be offered as a payment option when purchasing an iPhone on Apple.com or Apple’s physical stores.
The report likened the rumored subscription service to car leasing programs, where people typically enter a contract to pay a monthly fee and use a car for a certain period without actually owning it. While Apple has yet to confirm the report, an iPhone subscription program seems to fit with the tech giant’s focus on offering subscription plans in recent years.
It remains to be seen how the reported hardware subscription plan would differ from the existing iPhone Upgrade Program. The upgrade program lets customers acquire new iPhones with an AppleCare+. The payment is spread over 24 months, but it allows customers to trade in the device for a newer phone after 12 months into the program. The upgrade program, however, is essentially loaning the device financed through Citizens One Personal Loans.
The iPhone Upgrade Program and other installment plans divide the monthly payments for a 12 or 24-month contract based on the full price of the device. For example, customers can get the 128GB iPhone 13 mini with AppleCare+ starting at $35.33 per month under the upgrade program. But the report suggests the upcoming hardware subscription plan’s monthly pricing would not exactly work that way.
Bloomberg says Apple has yet to determine how much it will charge for the monthly subscription fee, but it would depend on the iPhone model that customers will get. The subscription service’s launch date is still tentative, per the same report. Bloomberg’s source says it could launch in late 2022 or 2023, but there is also a chance for it to be canceled altogether.
Photo by Brandon Romanchuk on Unsplash
