Apple plans to lease iPhones for $17.99 a month through partnership with Klarna - CNBC
Apple has partnered with Klarna to offer monthly leasing options for iPhones, iPads, and Macs in the U.S. This strategy aims to mitigate the impact of rising hardware prices and encourage more frequent device upgrades.
Why it matters
By shifting to a subscription-like model, Apple hopes to stabilize revenue cycles and maintain market share despite global economic pressures and hardware price hikes.
Apple customers in the U.S. will soon be able to lease an iPhone for up to two years at a price starting at $17.99 per month, the company announced on Tuesday.
The program, called Upgrade, is a partnership with Klarna , a provider of buy now, pay later loans, that will be offered at Apple's physical retail stores as well as its online store. After passing a soft credit check, customers will be offered a one- or two-year lease on an iPhone. There will be a similar option for an Apple Watch, or a two- or three-year lease available for Macs and iPads.
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