Apple to launch 'Upgrade' device leasing program to spur sales, Bloomberg News reports

The upcoming leasing program will now include iPads alongside iPhones and Macs, offering customers a lease-to-own structure similar to vehicle financing. Users will have the flexibility to upgrade to new hardware early or choose to keep or return their devices at the end of the term. The initiative is reportedly driven by rising costs associated with ongoing component and RAM shortages.

The program will now include iPads alongside iPhones and Macs, and is driven by higher costs resulting from component and RAM shortages. Customers can opt for lease-to-own pricing, which functions similarly to a car lease, allowing users to return, keep, or upgrade their devices early. While one source indicates a potential subscription service announcement as early as next week, this remains disputed.

The scope of the 'Upgrade' leasing program has expanded to include iPads, complementing the previously reported iPhone and Mac support. This initiative, which functions similarly to car leasing by offering options to upgrade, return, or keep devices, is reportedly being driven by price increases stemming from ongoing component and RAM shortages.

The upcoming program will include iPads in addition to previously reported iPhones and Macs, offering lease-to-own pricing similar to automotive leases. Customers will have the option to upgrade to a new device early, return it, or keep it at the end of the lease. Furthermore, current component and RAM shortages are cited as key factors driving both price increases across the product lineup and the launch of this leasing initiative.