Although Apple’s next smartphone may retail at $1,000, an iPhone 8 monthly plan may make the devices available at a more affordable rate. Major carriers will enable Apple consumers to spread the cost of purchasing this rather expensive mobile device over a period of two years. It is thought that the cost of these schemes will be around $50 per month.
While there will be three handset releases from Apple in 2017, at least according to the majority of reports, the has been concern over the hefty price tag of the premium unit. But an iPhone 8 monthly plan may make purchasing this smartphone more feasible for consumers all over the world, even if the device does end up retailing in the $1,000 to $1,200 ballpark.
There is no doubt that such a price tag would be discouraging for many potential Apple consumers, so the consumer electronics giant must already have considered the consequences of this policy. Manufacturing processes associated with the iPhone 8 will definitely be pricier than for previous iterations of the series, but the likes of Verizon and T-Mobile may still make the phones accessible to everyday people of modest means.
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Instead of investing the straight $1,000 in the next generation iPhone immediately, many American consumers will instead opt to take out an iPhone 8 monthly plan. The higher bill will include a portion of the cost of the smartphone, potentially making the device more affordable for consumers. Currently, the iPhone 7 Plus, recommended retail price $770, costs around $30 dollar on most monthly schemes.
So how much is this iPhone 8 monthly plan likely to cost? Several major carriers have already released their price schemes for this major phablet.
AT&T: full retail price: $949; monthly price: $31.67 for a 30-month installment plan with option to trade in after 2 years; $39.59 to trade in after one year
Sprint: full retail price: $960; monthly price: normally $40 but currently $20 as part of a special offer, for a lease with option to trade in after a year
T-Mobile: full retail price: $930; monthly price: $210 up front and $30 per month over a 24-month term, with an offer to buy one and get one free during preorders
Verizon Wireless: full retail price: $960; monthly price: $40 for two years.
Based on this data, we can’t realistically expect the iPhone 8 monthly plan to cost $10 extra for the average consumer.
However, despite the rather small difference between the Galaxy Note 8 and iPhone 8 in this area, it should also be considered that other factors may influence this issue. Carriers often compete directly by offering a wide variety of different offers, and this will particularly apply to a massive technology release such as the iPhone 8. With many consumers considering switching carriers, it will obviously be an excellent time to offer attractive deals.
Thus, market analysts have suggested that many carriers will offer assertive promotions that will coincide with the launch of the iPhone 8. This will mean that the cost of the average iPhone 8 monthly plan is likely to be lower than it otherwise would be.
However, not all analysts agree with this verdict. BTIG analyst Walter Piecyk suggested that the big carriers may not strongly discount the iPhone in 2017 after all. Piecyz suggest that the excellent financial position of some of the largest mobile phone companies means that there is no need for them to artificially boost subscriber numbers. Customer defections are rather low currently, while profits for the big carriers are noticeably high.
And despite the fact that many consumers would benefit from an iPhone 8 monthly plan, carriers haven’t previously felt any pressure to respond to big discounts from rivals.
“It might be tough for wireless operators to top the generous iPhone offers from last year. The competition among US operators is simply not as fierce as many of our peers seem to believe, but phone upgrades of existing customers could still play a role in delivering growth in smartphone sales,” Piecyk wrote.
So instead of offering an iPhone 8 monthly plan, delivering a discount, carriers could offer potentially less costly promotions. T-Mobile recently decided to bundle the infamous Netflix package along with some of its family plans, and there have been similar suggestions made regarding the iPhone 8. For example, Barclays believes that Apple could provide a free year of Apple Music alongside an iPhone 8 purchase.
iPhone 8 features
Aside from the iPhone 8 monthly plan, there is a huge amount of expectation regarding what the consumer electronics giant will include in its next-generation smartphone. It is assumed by now that a wraparound OLED display will be central to the new design of the handset, with the curved screen dominating the front panel of this tenth generation release.
Augmented reality features are also considered to be central to the iPhone 8 ethos, with CEO Tim Cook having already enthusiastically expressed his approval for this concept. It is thought that the augmented reality features in the iPhone 8 will deliver both security and gaming functionality.
Wireless charging will also make its way to the iPhone series for the first time with the iPhone 8. Apple has been tinkering with some exciting new technology which will enable consumers to recharge their devices wirelessly at a previously unimaginable distance of 15 feet.
An impressive new dual-camera has also been linked with the iPhone 8, while there will inevitably be a raft of respectable upgrades. Apple is particularly expected to focus on the battery included in the smartphone, after the iPhone series has been repeatedly criticized for running out of charge rather rapidly.
Many consumers will be hoping that an attractive iPhone 8 monthly plan is available when the smartphone launches, in what is expected to be late September.