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Apple's New iPhone Lease Plan is a Success

Maura

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Fortune reports today that Apple’s recently introduced iPhone Upgrade Program appears to already be very popular with customers.

Writing in a note to clients, RBC Capital’s Amit Daryanani said that 20% of 6,400 customers surveyed said that they intended to sign up to Apple’s new iPhone financing scheme that was announced by Apple CEO Tim Cook just three weeks ago.

Daryanani also told his clients that the program is “gaining more popularity.”

As Fortune notes, this is nothing but good news for Apple, as there are many pluses to this scheme for the company, such as the fact that it commits customers to buying a new iPhone each year, enables Apple to sell more AppleCare+ contracts, and havles the iPhone upgrade cycle to 12 months from 24 months.

Other benefits for the program included creating an inventory of used phones that can be refurbished and resold, and unbundles hardware and carrier costs.

It’s a pretty good deal for the customer as well as Apple, especially if you’re someone who always likes to have the newest iPhone, and who values Apple’s customer support service.

Source: Apple's iPhone Upgrade Program is catching on - Fortune
 

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