New data from the Citizen's Financial Group suggests Apple's loan partner has financed some 250,000 smartphones through the iPhone Upgrade Program, according to calculations from investment firm Piper Jaffray — as noted by AppleInsider.
The iPhone Upgrade Program, introduced in September, allows you to get a new iPhone every year and includes You’re even free to choose the carrier and rate plan that works for you. Pricing starts at $32.41 a month.
CFG says it had $220 million in Apple iPhone loans on its balance sheet at the end of December. To analyst Gene Munster of Piper Jaffray, that implies Apple sold about a quarter-million iPhones through the upgrade program. He estimates that the total number of iPhones sold through the program would represent between 3% and 5% percent of iPhone 6s units purchased in Apple Stores during that period.