Apple is set to introduce a new lease-to-own programme for its devices through a partnership with global payments company Klarna, giving customers a more flexible way to acquire iPhones, iPads, Macs and Apple Watches through extended payment plans.
The new initiative, known as Apple Upgrade, is expected to launch on July 28 and will allow eligible consumers to spread payments over several years instead of making a full upfront purchase. The programme also gives users the option to keep, return or upgrade their devices when their lease period ends, offering greater flexibility than traditional device financing.
The move expands Apple’s existing upgrade offering, which has largely focused on iPhones. Brandspur Banking News Desk reports that the company will stop accepting new customers into its current iPhone Upgrade programme as it transitions to the broader Apple Upgrade platform covering multiple product categories.
Under the planned arrangement, iPhones and Apple Watches will be available on lease terms of up to 24 months, while Macs and iPads can be financed over periods of up to 36 months. Some transactions may also attract additional charges depending on the terms of the agreement.
The new programme comes as Apple continues to navigate rising hardware production costs linked to ongoing global shortages of memory chips. Increased demand for advanced memory components driven by artificial intelligence technologies has placed pressure on the broader electronics supply chain, contributing to higher manufacturing expenses across the industry.
Apple has already announced price increases for some of its products, making flexible financing options increasingly important for customers seeking premium devices without paying the full cost upfront. By partnering with Klarna, the technology giant is positioning itself to make its products more accessible while encouraging customers to remain within the Apple ecosystem through regular device upgrades.
The initiative also forms part of Apple’s broader strategy to strengthen consumer purchasing options during a period of significant business transition, as the company expands its financial services offerings alongside its hardware and software businesses.
