Apple (AAPL) to reportedly launch a device leasing program with Klarna
Apple is reportedly preparing to launch a device leasing program called 'Apple Upgrade' in partnership with Klarna. The service will allow customers to lease iPhones, Macs, iPads, and Apple Watches over 24 or 36-month terms.
Why it matters
This move reflects a broader industry trend of using 'buy-now-pay-later' models to maintain consumer demand amid rising product prices and economic pressure.
News Apple (AAPL) to reportedly launch a device leasing program with Klarna Apple Upgrade will allow users to lease products like iPhone, Mac, iPad, and Apple Watch.
Apple is reportedly set to launch a new service next week in an attempt to address the surging prices of its products and the subsequent decrease in consumer spending. It's called Apple Upgrade, and will apparently allow customers to lease devices from the company through a pay-later model.
Bloomberg reported the existence of the Apple Upgrade program, which is reported to be aiming for a July 28 launch. The outlet claims that Apple has partnered with Klarna, a pay-later service that'll be the financial backer for Apple Upgrade. The service is expected to be available first in the United States before expanding to other territories.
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