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A week after Apple Inc. unveiled a program to allow customers of its retail stores in the United States to finance unlocked models of its two newest iPhones and upgrade annually, top executives at Canada’s three largest carriers dismissed the plan in chorus, reiterating that the subsidy model they have in place works just fine.

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Apple’s new pricing arrangement separates the cost of a handset from the price of cellular service. Based on equal payments over a 24-month period, an iPhone 6S and iPhone 6S Plus can be leased starting at US$32 and US$37 per month, respectively, and there’s no initial down payment. Service will be a separate charge.

In Canada, however, the basic storage option for each device can be purchased for $398.99 and $528.99 on a two-year contract. Carriers then recover the balance of the $899 and $1,029 retail prices during the term.