Apple Inc.: A Tech Giant or an Insurance Company?

No offence, Tim!

Apple Inc., a firm recognized for its high-quality tech products and services, has been known to trick customers on various occasions. Are you wondering why we are claiming such a statement? Let us shed light on one of Apple’s not-so-secret money-making techniques.

There has been a running joke in the smartphone industry that mocks Apple for their often shattered iPhone screens. It’s not like Apple purposely provides a poor-quality screen. Apple, in reality, uses some of the finest quality screens in the industry.

oops! iPhone has been broken.

We say this because Apple charges exorbitant fees to repair those screens. As a result, customers would rather have a damaged screen than a hole in their pocket. As a result, AppleCare+ was introduced to the market to resolve this concern.

Apple: What is ‘AppleCare+’

Secure your Apple devices using AppleCare.

AppleCare+ is a comprehensive extended guarantee program that allows customers to sign up for and use perks like premium technical support and accidental coverage, such as insurance at a monthly cost.

Apple no longer provides official data, but estimates suggest that AppleCare’s income reached around $8.8 billion in 2020, despite COVID-19 cutting demand. That’s more money than Apple’s entire Cloud business, as well as sales from Apple Music and Apple TV+ combined. But, given that every phone maker sells warranty plans, what makes Apple stand out?

le Apple* While repairing from a third party store

The problem is that Apple has long been criticized for preventing customers from repairing their own gadgets.

Apple, in a way, designs its products in such a way that it is very hard for customers to opt for a third-party repair center. Instead, most of them end up getting a repair by Apple themselves or one of their authorised service centers. The supply chain of its spare parts is only available to selected service centers. And if your phone is out of warranty, the cost of repairing might be too high. This is why most buyers end up getting AppleCare+.

AppleCare+ guarantees a ‘sense of security,’ and while it is now available for two years, we wouldn’t be shocked if it was extended to three or four years as technology improves and devices survive longer. AppleCare+ is a revenue source for Apple, and we’re only scratching the surface of its potential.

Also Read: Leaks Of ‘iPhone 13 Pro’ Case Shows An Increase in Camera Size

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