They’d be forgoing a huge upfront cash injection when the user pays for the device. And by targeting consumers that can shell out circa $1k for a premium device

They’d be forgoing a huge upfront cash injection when the user pays for the device. And by targeting consumers that can shell out circa $1k for a premium device without too much bother, they not only collect a high-income user base, but create an aura of exclusivity around their devices and ecosystem. Giving hoi polloi free iPhones would throw a spanner in these highly profitable works