In a press release, Verizon has announced a partnership with Apple called Verizon 5G Fleet Swap, a program that allows business customers to trade in their entire fleet of smartphones from any carrier and upgrade to any iPhone 12 model for “zero upfront cost, with zero to low cost per month.” verizon iPhone 12

Susan Prescott, Apple’s Vice President of Markets, Apps, and Services, says that the program will allow businesses to “build transformational mobile apps that take advantage of the powerful iPhone 12 lineup and 5G.”

“The iPhone 12 lineup is the best for business, with an all-new design, advanced 5G experience, industry-leading security, and A14 Bionic, the fastest chip ever in a smartphone. Paired with Verizon’s 5G Ultra Wideband going indoors and 5G Fleet Swap, an all-new device offer for enterprise, it’s now easier than ever for businesses to build transformational mobile apps that take advantage of the powerful iPhone 12 lineup and 5G.”

Tami Erwin, CEO of Verizon Business, says that the program is “not just an investment for growth; it’s what will set a business’s future trajectory as technology continues to advance.”

“No matter where you are on your digital transformation journey, the ability to put the power of 5G Ultra Wideband in all of your employees’ hands right now with a powerful iPhone 12 model, the best smartphone for business, is not just an investment for growth; it’s what will set a business’s future trajectory as technology continues to advance.”

The rationale is pretty obvious for Verizon. Up until it finally debuted its nationwide 5G network (trailing nationwide rollouts at T-Mobile and AT&T), its focus in the 5G race had been aimed at businesses and fueling “digital transformation” with its new super-fast, low-latency, but limited-range service. Clearly, big accounts are still a key focus. In fact, in tandem with the joint announcement with Apple, Verizon also said 5G has been installed inside General Motors’ new Factory ZERO all-electric vehicle assembly plant. Honeywell also tapped Verizon for 5G in its new headquarters in Charlotte. verizon iPhone

Besides spurring on growth in net new subscribers for Verizon, “5G Fleet Swap” could be great news for Apple, too. It’s been well-telegraphed that iPhone revenues have been mostly stagnant for a couple of years. Apple’s been making hay off of its services segment anyway, but 5G represents an opportunity to squeeze some expansion out of its flagship device. Getting a handful of large enterprises to adopt the iPhone 12 across all employee phones could do the trick.