Apple Developing Hardware Subscription Service for iPhones and Other Devices

Apple is developing a hardware subscription service that would allow customers to "subscribe" and receive an iPhone or other Apple device as part of their subscription, similar to the way current Apple subscriptions like iCloud work, reports Bloomberg.
Customers would be able to pay a monthly subscription fee and gain access to a device for the subscription period. This would be ideal for customers who do not have the funds to buy an expensive ‌iPhone‌, iPad, or Mac up front, but who c