Apple launches ‘Upgrade’ device leasing program in partnership with Klarna
Apple has partnered with Klarna to launch a new device leasing program, replacing its previous in-house financing options. The program allows customers to pay monthly for iPhones, iPads, Macs, and Apple Watches, with options to upgrade at the end of the term.
Why it matters
This shift helps Apple manage consumer affordability amid rising hardware costs caused by industry-wide memory chip shortages.
Apple is introducing a new leasing program in partnership with the “buy now, pay later” service Klarna, giving eligible customers the option to pay for Apple devices through monthly installments, the tech giant announced on Tuesday. The program is available for the iPhone, Apple Watch, Mac, and iPad on the Apple Store online, in the Apple Store app, and at Apple Store locations in the United States.
Leasing prices start at $17.99 per month for iPhone, $11.99 per month for Apple Watch, $24.99 per month for Mac, and $11.99 per month for iPad. Apple Upgrade offers one- and two-year leasing options for iPhone and Apple Watch, and two- and three-year for Mac and iPad.
At the end of the lease term, customers can upgrade to the latest generation of their device, purchase their current device with a one-time payment, or return it and exit the program, Apple says.
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