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How is this any different than the previously existing iPhone Upgrade Program?

The article doesn't provide any details, but a "subscription" would imply that you lease the device monthly from Apple, which owns it.

iPhone Upgrade Program involves you buying a phone outright, financed via a loan from Citizens Bank. The loan is written so that you have certain rights to turn in the phone, buy a new one, and that clears out the remaining original loan balance regardless of the phone's value.

Ok, so the major difference from the current setup is that instead of you owning the phone, Apple will retain ownership. That is a pretty big difference. Especially if they start offering iPads that way too.

Otherwise known as a lease, right?

I see it the same way. And if it’s cheaper I would be completely ok with it. I don’t necessarily upgrade every year but I’m still paying monthly. However with the modest feature upgrade year after year it’s becoming harder to justify.

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