The reported Apple Upgrade program raises a very big concern - 9to5Mac
Apple is reportedly considering a shift from its current iPhone Upgrade Program to a leasing model similar to automotive financing. This change could lower monthly costs but may leave consumers without ownership of their devices at the end of the term.
Why it matters
This shift represents a significant change in consumer electronics ownership models, potentially impacting long-term affordability and financial planning for Apple users.
A Bloomberg report yesterday suggested that Apple is about to launch a new Apple Upgrade leasing contract to replace the iPhone Upgrade Program.
There appear to be two significant differences between the two, and one of those is potentially very worrying …
The iPhone Upgrade Program is a straightforward one. The cost of your purchase is split over 24 months, and at the end of the two-year period, you own the device outright. There is no charge for the credit.
(Additionally, you have the option of upgrading to a new iPhone after 12 months. In that case, a new two-year contract begins, and you are in effect selling the old device back to Apple for the payments you have already made.)
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