Apple Launches New Leasing Program Across Devices
Apple has launched its new Upgrade leasing program across all major devices including iPhones, Apple Watches, iPads, and Macs. The initiative is handled in partnership with Klarna and aims to make premium products more affordable by offering monthly lease payments starting as low as $11.99 for an Apple Watch and up to $24.99 per month for a Mac. Customers can upgrade their devices at the end of each lease term, purchase them outright, or return them. The timing is strategic given recent price hikes across many Apple products due to rising memory processor costs driven by AI demand. By introducing this leasing option, Apple aims to soften the impact of these increases while maintaining its strong hardware gross margins. The company also hopes customers will develop regular upgrade habits similar to those seen with previous iPhone Upgrade plans. Investors are watching closely as the program could influence customer behavior and boost sales for upcoming high-end products like a rumored foldable iPhone expected in September.
Topics: Apple consumer affordability leasing program product upgrades