Apple is reportedly looking to sell its developer account in order to raise $1 billion.
The Wall Street Journal says that the company is “considering the possibility of selling its stake in its developer accounts as well as its existing stake in Apple Watch.”
Apple reportedly is looking to raise up to $1bn by selling the developer accounts it owns to raise funding for the company.
Apple Watch has been an unexpected hit for the iPhone maker, but the Apple Developer Program has proven controversial.
The program was initially introduced in 2014 as a way for companies to pay for their products through an annual fee.
But Apple later began offering the program free of charge, as the company has continued to build up its App Store and continue to push its iOS software.
Currently, developers can use the developer account to make revenue from the App Store, which is then used to fund the purchase of hardware, software, and other purchases.
But with Apple Watch’s success, Apple is now looking to bring the program to the Apple Watch as well.
“We’ve seen the value in having a developer account,” Apple’s chief executive Tim Cook said in September, when asked about the possibility.
“The fact that you can be a developer for the Apple Store, for the Appstore, for Apple Watch, and then for the entire ecosystem.
So, I think the developer is going to be an incredibly valuable thing.”