Due to “engineering and technological obstacles,” the iPhone hardware subscription service has been delayed

The tech company Apple is reportedly working on two big projects side by side. One is Apple Pay Later and the other one is the iPhone hardware subscription service. In accordance with a recent report from Bloomberg, both projects are suffering delays. Mark Gurman notes in his latest newsletter that the company has four fintech projects in the pipeline. Of these four projects, the company has revealed two projects i.e., Apple Card Savings Account and Apple Pay Later. On the other hand, there are two more projects namely “Apple Pay Monthly Installments” and an iPhone hardware subscription program. The company has not revealed them as of yet.

According to Gurman, the company was all set to introduce the iPhone subscription program back in 2021 with the release of the iPhone 13. Even with the release of the iPhone 14 in 2022, the company was anticipated to introduce the project. But unfortunately, the project is delayed due to some technical issues. These technical issues have slowed down the progress. However, one thing to note here is that the company is still working on these projects.

iPhone hardware subscription program is different in contrast to other options available for iPhone users. Since it won’t be a monthly price of the device divided over the span of 12 or 24 months. In contrast, it would be a monthly fee [not determined yet] that will be dependent on a user’s choice.

Gurman anticipates that Apple pay Later will be introduced in the next few months i.e., March or April. However, the company has not shared any up-to-date timeline for other projects like Apple Card Savings Account. In addition to this, the company has to decide about the iPhone subscription or Apple Pay Monthly services.