Apple has abandoned its plan to launch an iPhone hardware subscription service, marking a significant retreat from an innovative approach that aimed to change the way consumers purchase its flagship device. The project, which began around 2022, sought to make owning an iPhone comparable to subscribing to an app – with monthly fees and new phones every year.
However, Apple has since halted work on this initiative, disbanding the team involved and reassigning them to other projects. This move comes after Apple shut down its “Pay Later” offering earlier in the year, further indicating a shift in the company’s approach to consumer financing options.
Source: https://www.bloomberg.com/news/articles/2024-12-18/apple-halts-long-running-effort-to-build-iphone-hardware-subscription-service