Apple Launches Device Leasing Program with Klarna
Apple has launched a new leasing program called Apple Upgrade in partnership with buy now, pay later service provider Klarna. The initiative allows customers to lease iPhones, Apple Watches, Macs, and iPads through monthly installments starting at $17.99 per month for an iPhone and as low as $11.99 for the Apple Watch. Leasing terms range from one to three years depending on the device type. At the end of a lease term, customers can upgrade their devices, purchase them outright with a final payment, or return them. The program is being introduced amid ongoing supply chain challenges known as 'RAMageddon,' which have caused memory chip shortages and led Apple to raise prices for Macs and iPads. The leasing option aims to make these higher costs more accessible for consumers. Customers can manage their leases via the Klarna app, track payments, and trade in existing devices through Apple Trade In to reduce monthly fees. Apple is phasing out its previous financing programs like the iPhone Upgrade Program with this new offering.
Topics: Apple Upgrade Program buy now pay later device leasing Klarna partnership