<ul><li>Apple has dropped plans for a hardware subscription service that would allow customers to get a new iPhone each year.</li><li>The subscription-based service would have allowed customers to pay a monthly fee to access a device for the subscription period.</li><li>Apple halted development of the service due to regulatory concerns, software bugs, and other issues.</li><li>The team working on the project was disbanded and reassigned to other projects.</li></ul>

Apple Drops Plans for iPhone Hardware Subscription Service

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