Apple to offer bundled services

Apple is about to take a page from Amazon. The iPhone maker is reportedly planning to offer a combination of its digital services in subscription bundles at a lower monthly price.

Bloomberg News says the bundles dubbed “Apple One” are set to launch in October along with the company’s new iPhones. It says the bundles are aimed at generating more recurring revenue and loyalty in the same way Amazon’s Prime service offers free shipping with video streaming and other services for a monthly or annual fee.

Apple has been focusing on expanding sales of services as consumers have slowed their pace in upgrading their iPhones.

Toward that end, Bloomberg says Apple is developing virtual fitness classes that will be offered in a higher-end bundle. Users would access the classes through apps on their Apple devices. It reports that it would put Apple up against Peloton and Nike who are benefiting from the millions of Americans now exercising at home.

Bloomberg says the subscription bundles would save consumers $2 to $5 a month depending on the package chosen.

Apple did not immediately respond to a request for comment.

Shares of Apple rose 2% Thursday morning as the company edged closer toward a market capitalization of $2 trillion.