Apple winds down work on iPhone hardware subscription service

Apple has wound down work on a project to build an iPhone hardware subscription service, Bloomberg News reports citing “people familiar with the matter.”
Mark Gurman for Bloomberg News:‎The idea was to make owning an iPhone like subscribing to an app — with consumers paying monthly fees and getting new phones each year — but Apple recently wound down the effort, according to people familiar with the matter. The team was disbanded and reassigned to other projects, sai