Apple wants to offer an exclusive subscription to Apple Card members with which they can finance the latest iPhone for 24 months without interest
- Apple CEO Tim Cook discussed a subscription for Apple Card users on Wednesday
- Would let them finance an iPhone for 24 months with zero percent interest
- Renews speculations of a subscription bundle for both hardware and services
iOS users may soon have another plan on their list – Apple Prime.
Apple CEO Tim Cook mentioned an exclusive program for Apple Card members that will allow them to finance the latest smartphone in 24 months with a zero percent stake in the company's earnings call on Wednesday.
This move has renewed the speculation that Apple could offer a subscription program that bundles both hardware and catalog services, such as original TV shows, news and magazines.
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iOS users may soon have another plan on their list – Apple Prime. The Cupertino company is getting closer to an exclusive program for members of the Apple Card (photo) with which they can finance the latest smartphone in 24 months with an interest rate of zero percent
The concept of Apple Prime arose during the profit call, when analyst Toni Sacconaghi asked about the idea of a subscription and Cook responded quickly, CNBC reported.
& # 39; In terms of hardware as a service or as a bundle, if you want, nowadays there are customers who essentially view the hardware because they have upgrade plans, and so on, & # 39; Cook said during an income call.
& # 39; So to some extent that exists today. & # 39;
He continued to explain that the Apple & # 39; Apple Prime & # 39; sees as an opportunity to grow.
& # 39; We are aware that there are many users who want such a type of recurring payment and the receipt of new products on a kind of standard basis, and we are determined to make it easier than it might be today, & # 39; Cook said.
Apple Prime was not officially released in the profit call, but Cook said users are willing to pay a monthly fee for the privilege of & # 39; the newest and best iPhone & # 39; to have
WHAT IS APPLE CARD?
Apple rolled out its virtual credit card in August, in collaboration with Goldman Sachs Group.
Apple announced the card in March, with the goal of attracting iPhone owners by offering a 2 percent cash back card for purchases with the Apple Pay service, no costs, an app to manage related finances and a focus on data privacy.
The card is designed to work with the iPhone, where users sign up for the card and can use it immediately if they are approved through the Apple Wallet app and the Apple Pay system.
Apple offers an option for a physical map of titanium, but the physical card has no visible number.
Instead, the number of the card is stored on a secure chip in the iPhone, which generates virtual numbers for online or telephone purchases that require a number.
Apple Prime was not officially released during the call, but Cook said users are willing to pay a monthly fee for the privilege of & # 39; the newest and best iPhone & # 39; to have.
The mention of Apple Prime says a lot that the company could soon introduce a subscription to the content catalog.
A report from 2018 first mentioned the program and suggested that the tech giant combines his music, original TV shows, news and magazine services for an upcoming Amazon Prime-style subscription option.
It is not yet known exactly when the new service will be launched or how much it will cost, but if it has to compete with its rival, it is probably around 12.99 a month.
Although the plan could have an official name if and when it is rolled out, Apple already has a program that allows customers to pay their iPhone monthly instead of buying the device, which also includes a warranty and free upgrade every 12 months.
Then there is Apple's trade-in option, which allows consumers to return their old iPhone for a discount on a new model.
And Apple managers have noted that this program has been a success.
& # 39; We also continued to see great results from our trade-in program with more than five times the iPhone trade-in volume we had a year ago & # 39 ;, said Apple's CFA, Luca Maestri.
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