CUPERTINO, United States – Apple is reportedly preparing to launch a new lease-to-own program for its devices in partnership with deferred payment company Klarna, offering customers the option to spread payments over several years.
According to a report by Bloomberg, the initiative, known as Apple Upgrade, is expected to debut on July 28. Okay News reports that the program will cover products including the iPhone, iPad, Mac, and Apple Watch, allowing users to either keep, return, or upgrade their devices at the end of the lease period.
The report stated that leases for iPhones and Apple Watches will run for up to 24 months, while Macs and iPads could be financed for as long as 36 months. Some transactions may also attract additional charges, although details on the fees have not yet been disclosed.
Apple currently operates the iPhone Upgrade Program, but the company is expected to phase out new enrollments in favor of the broader Apple Upgrade platform. Neither Apple nor Klarna has officially confirmed the reported arrangement.
The move comes as Apple navigates rising hardware costs linked to the global memory chip shortage known as “RAMageddon”, which has increased production expenses across the technology industry. The company recently announced price increases for some products, and the new leasing option could provide consumers with a more flexible way to access Apple devices while helping maintain sales momentum during a period of corporate and industry transition.
