Apple Inc. has halted its project to develop an iPhone hardware subscription service, according to sources familiar with the matter. This decision marks a retreat from an initiative aimed at changing how consumers purchase its flagship device.
The concept involved users paying a monthly fee to receive new iPhones annually, similar to an app subscription. Winding down this effort indicates a re-evaluation of Apple's long-term monetization strategies for its hardware.
This operational shift suggests that Apple is reassessing the viability or timing of a hardware-as-a-service model, which could have significant implications for its future revenue streams and customer acquisition strategies.
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