Apple Launches New Leasing Program with Klarna as Key Partner
Apple has launched its Apple Upgrade leasing program, allowing customers to pay monthly for devices such as iPhones, Apple Watches, Macs, and iPads. The new plan offers lower payments than previous upgrade options, potentially increasing device sales by encouraging more frequent upgrades and higher-end purchases. The financial infrastructure behind the program is provided by Klarna, a leading buy-now-pay-later (BNPL) company. Klarna legally owns the devices during the lease term and earns revenue through merchant fees from Apple as well as potential profits from reselling returned units after leases end. The partnership could significantly boost Klarna's scale and long-term revenues. While Apple benefits indirectly, analysts suggest that Klarna may be the primary financial winner due to its direct involvement in financing and device management.
Topics: Apple consumer finance Klarna leasing program