Apple is launching a new $20 per month insurance plan that covers up to three devices, as the iPhone maker looks to grow its subscription offerings. Bloomberg's Samantha Kelly joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech."

San Francisco

Apple has announced a new AppleCare subscription plan priced at $20 per month, enabling users to insure up to three different Apple devices, including iPhones, Apple Watches, and Vision Pro headsets. The plan provides coverage for accidental damage, spills, cracked screens, and includes 24/7 support and battery replacements.

Previously, AppleCare coverage was sold separately for each device, but the new bundled approach offers potential savings for consumers and streamlines the process. Devices up to four years old can be included, provided they pass a diagnostic test. This move is part of Apple's broader strategy to grow its services division and generate recurring revenue amid increased competition.

New AppleCare covers up to three devices

What's new about it. Why are they updating it. Hi good morning. Yeah. So basically this new 20 dollar a month subscription allows you to have three different devices as any different base model. So you could have a newer iPhone or a vision pro or an Apple watch. And for 20 dollars it will protect against spills accidents crack screens. You can talk to somebody 24 7 if you have I.T. help battery replacements. Before previously the company has long offered a subscription plan where you can opt into the same type of thing for the iPhone but you would have to pay for it almost a la carte. So if you had an Apple watch you'd have to do just that. You'd have to do the iPhone. This bundles packages everything very nicely together for 20 dollars a month. And in theory there could be some savings here for some consumers as well. And obviously a subscription play for Apple as well. Let's go there because I can see why the advertising for consumer particularly if there's loss and theft coverage. What is in this for Apple. Yeah. So this is a major play for Apple again. You know devices and insurance isn't exactly doesn't sound sexy on the service but there is a major play here. So basically the services division in general is Apple's second biggest moneymaker behind the iPhone. Not only is it the app store there is Apple TV plus there is Apple Fitness. There's iCloud. So here with Apple care you're able to keep you have two billion devices out there. This is people who maybe have one device insured. If that this is money that they would be able to make and it would in theory help offset some of the different challenges that they're seeing right now around the Apple store or lagging behind AI in certain areas against competitors trying to drum up subscription sales in general. And this is money that potentially people might not be paying. But they might say you know what for 20 dollars a month if my phone breaks if I lose it maybe this is enticing enough for me to do it. Where are the limitations. For me I think the off putting thing is yes I can see you wanting to opt in if you're buying a new device. But then to get the older stuff that you already have insured you kind of got to get it diagnostically tested. Yes you do. So you have to go through a short sort of several minute testing to make sure that the screen is OK. The you know the battery they want to make sure everything is OK before your insurance almost like health insurance. You want to make sure things are OK. And but it does go back four years. So you might say you know I have a brand new iPhone but I haven't bought an Apple Watch in quite a while. And so this might be a way for you to say oh you know maybe I can opt into something a little bit more.

Typhoon Co-May has left a trail of destruction across the Philippines, making landfall in the country's northwestern region. Torrential rains and strong winds have battered towns and cities, damaging homes, roads, and farmland. At least 25 people have been reported dead.

Pangasinan

Philippines hit hard by Typhoon Co-May, dozens killed

Israeli Prime Minister Benjamin Netanyahu and U.S. President Donald Trump appeared on Friday to abandon Gaza ceasefire negotiations with Palestinian militant group Hamas, a day after withdrawing their delegations from talks.

Jerusalem

Middle East Conflict

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Washington

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Thailand and Cambodia exchanged heavy artillery fire for a second day on Friday (July 25) as their worst fighting in over a decade intensified and spread to new areas, despite international calls for a ceasefire.

Bangkok

Thailand, Cambodia exchange heavy artillery

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Macron says France will recognize Palestine as a state

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Ukraine Invasion

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Beijing

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London

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President Trump and Federal Reserve Chair Jerome Powell had a disagreement almost immediately as the two men set foot in the Fed's headquarters in Washington to survey an extensive renovation project on two of the reserve's buildings. Nancy Cordes has more.

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Clearwater

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Surin

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Tynda

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New York

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Nashville

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Los Angeles

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Istanbul

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Kyiv

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California

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Breakdown