Apple Collaborates with Klarna for New Device-Leasing Program Impacting iPhone Sales Starting July 28

Apple Launches Device-Leasing Program

Apple is set to introduce a leasing program called Apple Upgrade in the U.S. on July 28, according to Bloomberg. The program will allow customers to lease iPhones and Apple Watches for 24 months, while leases for Macs and iPads will extend to 36 months. Financing will be provided by Klarna, and customers can opt to either pay off their device early or upgrade to a newer model during the lease term.

This move comes as Apple reported iPhone revenue of $57 billion in its latest quarter, a 22% year-over-year increase. The leasing program aims to enhance sales momentum and reduce dependence on single product cycles by encouraging more frequent upgrades.

Apple is expected to discuss the implications of this new leasing program in its fiscal third-quarter earnings report scheduled for July 30, two days after the launch.