Apple has reportedly stopped working on an iPhone hardware subscription service that would have allowed customers to pay a monthly fee to get a new iPhone each year.

Apple drops plans for its long-rumored iPhone hardware subscription service that would let customers subscribe to get a new iPhone each year.

Whenever Apple debuts its latest iPhones, price is something that’s on everyone’s minds. Apple’s smartphones do not come cheap, which is why there were rumors that Apple was toying with the idea of an iPhone subscription program.