The program, which will include iPhones and Macs, is expected to debut next week with Klarna as a partner.
Sami Abdullah
Apple is launching a device leasing program called 'Upgrade' aimed at spurring sales, Bloomberg News reports.
The program is expected to launch next week, according to the report.
Users will be able to lease iPhones and Macs through the program, Bloomberg News reports.
Klarna is partnering with Apple for the leasing program, according to the report.
Klarna's stock (KLAR:NYSE) traded up after the report of the Apple leasing partnership, 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.
The upcoming leasing program will now include iPads alongside iPhones and Macs, utilizing a lease-to-own structure similar to vehicle financing. Consumers will have the flexibility to upgrade early, return, or keep their devices at the lease's conclusion. Additionally, reports indicate that the company plans to phase out its existing iPhone Upgrade Program as it addresses rising costs driven by component and RAM shortages.
The upcoming leasing program will now include iPads alongside iPhones and Macs, offering customers up to 36-month payment plans with options to upgrade early, return, or keep devices. Driving this initiative are rising component and RAM costs, while internal iOS 27 code reveals that Apple could place financed devices into a 'Restricted Mode' or disable applications following missed payments. Additionally, reports suggest this new service may lead to the eventual phase-out of the existing iPhone Upgrade Program.
The upcoming leasing program will now include iPads alongside iPhones and Macs, offering 36-month payment plans and lease-to-own options similar to automotive financing. Reports indicate that component and RAM shortages are driving this move, while new iOS 27 code suggests the company may be able to restrict device functionality or access to applications if payments are missed. Additionally, the company is reportedly planning to wind down its existing iPhone 'Upgrade Program' program.
The upcoming leasing program will expand beyond iPhones and Macs to include iPads and features lease-to-own pricing with payment plans up to 36 months. Additionally, code within iOS 27 suggests that the company may implement restrictions on leased devices, potentially cutting off app access if payments are missed. The program is reportedly being introduced in response to rising prices caused by component and RAM shortages.
The upcoming leasing program will now include iPads alongside iPhones and Macs, offering lease-to-own pricing with payment plans extending up to 36 months. Customers will have the option to upgrade early, return, or keep their devices, a structure compared to automotive leasing. Additionally, iOS 27 code suggests that the company may implement restrictions on leased devices, including the ability to disable apps or place devices in a specific mode if payments are missed.
The upcoming leasing program will include iPads alongside iPhones and Macs, offering payment plans of up to 36 months with a lease-to-own structure similar to vehicle leasing. Users will have options to upgrade early, return, or keep devices, though reports suggest that iOS 27 code may allow the company to restrict access to apps or place devices in a limited state if payments are missed. Additionally, the program is being introduced in response to rising prices caused by component and RAM shortages, with a possible official unveiling date set for July 28.
