Apple said to stop work on iPhone subscription service: report

Closeup of box of iPhone 16 pro against white background at Swiss City of Zurich on a cloudy autumn day.

Michael Derrer Fuchs/iStock Editorial via Getty Images

Apple (NASDAQ:AAPL) has ceased working on an initiative that would have seen users buy iPhone hardware via a subscription service, Bloomberg reported.

Apple shares fell 1% in midday trading on Wednesday.

The service would have allowed iPhone users to pay for their

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