Apple Launches New Upgrade Leasing Program Across Devices
Apple has launched its new Upgrade leasing program through Klarna, allowing customers to lease devices such as iPhones, Apple Watches, iPads, and Macs. The initiative aims to make premium products more affordable by offering monthly payment plans starting at $11.99 for an Apple Watch up to $24.99 per month for a Mac. Leases range from 12-36 months with options to upgrade or purchase the device after completion. The timing of this program is significant as it follows recent price increases across many Apple devices due to rising memory and processor costs driven by AI demand. By introducing leasing, Apple may mitigate customer resistance to higher prices while maintaining its strong gross margins. The company hopes customers will develop a habit of upgrading regularly when their lease terms end. Investors should watch how this program affects upgrade cycles and device sales, particularly as Apple is expected to raise iPhone prices in the fall.
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Topics: Apple device affordability Klarna partnership leasing program