Apple’s iPhone hardware subscription service, which would have allowed customers to pay for iPhones in monthly installments, has been canceled.
The service faced multiple delays due to software and financial infrastructure issues, leading Apple executives to pull the plug.
The introduction of new regulations by the Consumer Financial Protection Bureau (CFPB) on “buy now, pay later” services further complicated the launch.
A key factor in the decision was the potential strain on Apple’s relationships with its carrier partners.
These carriers play a vital role in selling iPhones, often offering attractive installment plans.
Apple’s move to introduce its own subscription service could have upset these partners, who might have shifted focus to rival brands instead.
The cancellation follows the earlier termination of Apple’s Pay Later service, which also faced regulatory hurdles.
While the subscription service failed, Apple remains strong in other areas like wearables and cloud services, highlighting the challenges of expanding new services while maintaining existing business relationships.
