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Apple Takes Aim at Wireless Phone Companies
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Apple offers a new way to buy iPhones directly from Apple with financing in September 2015. This will change the way iPhones are sold, giving more control over the sale of iPhones to Apple. It will enable Apple to stabilize core sales for iPhones by encouraging upgrades every year. The monthly payments are $32.41 for 2 years for the cheapest iPhone. Apple is taking aim at the average upgrade time which is increasing- it went up to 26.3 months in 2015 from 18.2 months in 2010, according to a telecom consultant. With the iPhone 6 and iPhone 6 Plus sales surged for Apple in the first 3 quarters of 2015 by 50% from the prior year period. It will be harder for Apple to generate this kind of sales increase as the new iPhones introduced in September 2015- the iPhone 6s and 6s Plus have better cameras and "3-D Touch," only incrementally different. A 16 gigabyte iPhone 6s would cost $778, about the same as the $649 price and Apple Care coverage of $129. The way iPhones were sold through wireless carriers kept the price hidden with higher wireless service charges- 2 years of a Verizon wireless 3 gigabye data plan ended up costing users twice the amount of the $649 price of the iPhone. Now the competition among wireless carriers will shift to pricing cuts and changing their pricing strategies. The result of the changes is likely to be increasing shifts from one carrier to another as Apple allows direct buyers to choose the carrier they want.
Apple changes the way iPhones are sold in September 2015 by selling iPhones direct with financing for 24 months of payments, letting customers pick the carrier they want
09/10/2015
The cost is about the same as the price of the phone plus Apple care coverage for the iPhone 6s. Users get to choose the carrier and can upgrade to a new phone every year, giving Apple a core buyer base to stabilize sales, as newer iPhones have only small incremental improvements. Since 2010 the average upgrade time is up to about 26 months from 18 months, according to experts, and Apple hopes to reverse this trend to keep selling more iPhones.
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Apple's direct sale of iPhones to users with financing and 24 monthly payments in September 2015, and annual upgrades
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Apple responds to the need to stabilize iPhone sales as newer phones 6s and 6s Plus in 2015 have only small incremental improvements. By directly selling iPhones with 24 monthly payments Apple can offer its own yearly upgrade and get customers to buy new phones every year, stabilizing core sales. It also helps reverse a trend to iPhone users keeping their phones longer- from 18 months in 2010 to 26 months in 2015. During 2015, iPhone sales with the larger displays increased sales by 50% for three quarters of 2015 over the prior year! This kind of sales surge is now beyond Apple, hence the need to shift to other strategies, including getting control of the sale of iPhones from wireless carriers such as Verizon and AT&T.
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