Apple is reportedly planning to unveil a subscription service for its iPhones and other devices – a shift that will make owning an iPhone or iPad like paying for a monthly music subscription.
"People with knowledge of the matter" told Bloomberg that the project – which is still being refined – will enable Apple users to subscribe to hardware instead of just digital services. The sources declined to be identified as the service is still under wraps.
A spokesman for Apple declined to comment and called the report "speculative".
Under the tech giant's new scheme, it would move from selling devices at a full cost outright or through monthly plans with various carriers, to implementing a hardware subscription service similar to a car leasing programme.
The rationale behind the service is to make the purchase of new hardware akin to paying for iCloud storage. Consumers can subscribe to devices with the same information that they use to purchase apps, and potentially trade in their hardware for newer models when they are released.