Apple to Launch Device-Leasing Program With Klarna on July 28
Apple is set to launch a new device-leasing program called Apple Upgrade in the U.S., according to Bloomberg. The initiative, scheduled for July 28 and partnered with Klarna, aims to offer customers flexible options to lease iPhones, Apple Watches, Macs, and iPads over fixed terms of either 24 or 36 months. The leasing model is expected to encourage more frequent upgrades by allowing users to pay off devices early or switch to newer models. This could lead to steadier revenue for Apple as it transitions from one-time sales toward a subscription-like approach, particularly beneficial for its iPhone business which generated $57 billion in the March quarter. Klarna will handle financing and credit checks while Apple retains customer relationships without assuming lending risk. The program is expected to replace existing upgrade options but may exclude some lower-priced models like the iPhone 16 and Apple Watch SE.
Topics: Apple Upgrade device leasing iPhone revenue Klarna partnership