Apple could be set to launch a subscription service for iPhones, allowing users to pay for their devices in monthly instalments just like Netflix.
According to a report by Bloomberg, Apple is looking at launching a new service which would sit alongside iCloud, AppleTV+, Apple Music, and Fitness+.
This would allow more people to get their hands on Apple's expensive gadgets, which can run upwards of £1000 in the case of iPhones.
Although there are few concrete details confirmed yet, it seems that it would be similar to monthly phone contract plans you can already get with companies like O2 or giffgaff.
This would be in addition to Apple's existing monthly instalment plan for iPhones, the iPhone Upgrade Plan. This lets you pay a set monthly fee to Apple in exchange for an annual upgrade to the latest iPhone model.
While the iPhone Upgrade Plan lets you own the phone outright, the rumoured subscription model might force you to return the device to Apple, meaning you would never truly own it.
Apple has been approached for comment on the matter. This article will be updated as soon as a response is received.
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In other iPhone news, Apple quietly admitted the latest iOS 15.4 update is causing a sharp decrease in battery life.
iPhone users have been complaining for days of "ridiculous" battery drain, with one person on Twitter saying that their phone is going down by 5% in less than 10 minutes ever since the latest system software update was installed.
Some have also complained about storage space being reduced and that their iPhones are getting hot.
Apple said this is often typical after new software updates and that it can take a few days for apps to 'adjust'.
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