Apple Launches Device Lease Program with Klarna
Apple has launched a new device leasing program called Apple Upgrade in partnership with Klarna for the U.S. market, offering iPhone, Apple Watch, Mac, and iPad models on flexible monthly payment plans starting at $17.99 per month for an iPhone. The program replaces older financing options like the iPhone Upgrade Program and offers no security deposit requirements or hard credit checks. At lease end, customers can upgrade to a new device, buy their current one outright, or return it without further obligation. The announcement follows recent price hikes on MacBook and iPad models due to rising component costs, as noted by CEO Tim Cook. Analysts expect iPhone prices may also rise when the next generation launches in September. Apple Upgrade shifts focus from total purchase cost toward monthly payments, potentially influencing consumer perception of product affordability.