Apple is working on a subscription service for iPhones

Apple Inc is working on a subscription service for iPhones and other hardware products, a move that could make device ownership the same as paying a monthly app fee, according to people familiar with the matter. The service will be Apple’s biggest boost to date in automatically recurring sales, allowing users to subscribe to devices for the first time – rather than just digital services. But people, who asked not to be identified because the initiative has not been announced, said the project is still under development. Shares of Apple…

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