Apple is continuing to increase the number of its services that include recurring billing subscriptions.
Apple on Thursday released a new program for businesses to set up, manage and install software on worker iPhones, iPads and Macs.The product is the latest example of Apple offering services that include a recurring billing subscription.on Thursday released a new program for businesses to set up, manage and install software on worker iPhones, iPads and Macs.
The product, called Business Essentials, ranges from $2.99 per month to $24.99 per month per worker. It allows a boss or a system administrator to install corporate apps, set passcode policies, track or shut down a lost phone or laptop and provide access to cloud storage. In the more expensive tiers, users are given AppleCare credits so they can get repairs from Apple stores.
Apple is continuing to offer more services that include a recurring billing subscription as it shifts away from a reliance on devices. Services are a focus for Apple investors, who value the stability and predictability of recurring revenue, preferring it to the seasonality of hardware sales. Apple's services business grew 27% in 2021 to $68.4 billion as the company introduced subscriptions like Fitness+, which gives users access to a library of video workouts.
The new product is also a sign of Apple's increasing emphasis on corporate sales and products that help businesses navigate hybrid work environments. Historically, although Apple has sold to enterprises, it has focused development and marketing on consumer products.
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