Apple continues engaged on its long-rumored iPhone {hardware} subscription service regardless of hitting a number of roadblocks. The service was first rumored to launch in late 2022.

With a subscription service, Apple will enable prospects to get the most recent iPhone by paying a month-to-month price. This could save them from shelling out the full system price upfront.

iPhone {hardware} subscription service nonetheless within the works

Reportedly, Apple’s purpose was to launch the iPhone-as-a-subscription service in 2022 or 2023. The corporate was engaged on it alongside final yr’s iPhone 14, however the former by no means noticed the sunshine of day.

Within the newest version of the Energy On e-newsletter, Bloomberg‘s Mark Gurman says the subscription service ought to nonetheless arrive…finally. Maybe the corporate might launch the subscription service alongside the iPhone 15 launch later this yr.

An iPhone subscription service might allow extra prospects to improve to the most recent iPhone yearly, which is in the end what Apple desires.

Apple engaged on a next-gen monetary platform

A few of Apple’s monetary initiatives have additionally hit technical hurdles. The corporate unveiled Apple Pay Later at WWDC22, and it was purported to launch in September. Nevertheless, the function is but to go dwell. Equally, Apple introduced financial savings account integration for the Pockets app in October 2022, however it has not gone dwell but.

Reportedly, all of Apple’s upcoming companies have suffered from engineering challenges. The corporate is engaged on an underlying platform for its monetary companies referred to as Mission Breakout. It will do all of the heavy lifting of curiosity calculations, credit score checks, approvals, and extra. Apple presently depends on its monetary companions for these actions.

Apple Pay Later lately entered retail beta testing. This hints that its public launch shouldn’t be far-off. It might launch in March or April 2023. As for Apple’s different monetary initiatives, it’s unclear when the corporate will launch them now.