Sources say Peter Stern, Apple's vice president of services, is leaving and was in charge of the expansion of the paid subscription business.

CTOnews.com, January 10 (Reuters)-Insider on Monday quoted people familiar with the matter as saying that Peter Stern, Apple's vice president of services, had informed colleagues that he was leaving the company.

Stern joined Apple from time Warner Cable in 2016 and will leave at the end of this month, the report said. Apple didn't immediately respond to a request for comment.

As a prominent media executive, Stern was responsible for the expansion of Apple's paid subscription business, especially the TV product Apple TV+. Apple's service businesses include News+, Fitness + and iCloud+, as well as other subscription services.

CTOnews.com learned that in the fourth quarter to September 2022, the division's revenue was $19.19 billion (about 131.26 billion yuan), up 5 per cent from a year earlier. Insider noted that Apple is restructuring its services division and that Stern's responsibilities will be divided into three separate departments.