Apple Unveils Upgrade Program, Letting Customers Lease New Devices Instead of Buying Them
- On Tuesday, Apple launched its new 'Apple Upgrade' leasing program in partnership with digital payment provider Klarna, offering monthly installments for iPhones, Apple Watches, iPads, and Macs in the United States.
- Apple discontinued its previous in-house financing programs as the manufacturer faces rising hardware costs and recently increased prices for Mac and iPad lineups by up to $300.
- Monthly lease terms range from 12 to 36 months, with payments starting at $11.99 for Apple Watches and iPads, $17.99 for iPhones, and $24.99 for Mac computers.
- Unlike previous offerings, AppleCare+ is not included in the new plan; customers must purchase it separately while managing their lease directly through the Klarna app.
- At the end of the lease term, customers can return the device, purchase it with a one-time payment, or upgrade to a newer model; if no action is taken, the lease converts to month-to-month for up to six months.
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Has Apple just given us the best clue yet that iPhone prices are about to increase?
Apple has debuted a new leasing scheme in partnership with Klarna, so you can pay for its gadgets with a small monthly fee. Dubbed Apple Upgrade, the leasing programme covers a slew of devices, including iPhone, Apple Watch, Mac, and iPad. You can unlock a discount on your monthly repayments by trading in your current gadgets.This isn't the first time the Californian firm has offered flexible payment schemes. The iPhone Upgrade Programme launche…
Apple launches new 'Apple Upgrade' Leasing Program for iPhone, iPad, Mac and Apple Watch
Apple Upgrade leasing program is live in the US, replacing its existing iPhone Upgrade Program. The service enables the customers to lease iPhones, iPads, Macs, and Apple Watches for monthly payments, with options to upgrade, purchase, or return the device at the end of the lease period.
Apple has partnered with Klarna in the U.S. to launch a device rental program for iPhones, Macs, and other devices. This strategy aims to prevent customer churn and generate repeat demand by lowering the price burden. Having proven its profitability through this, Apple surpassed a market capitalization of $5 trillion during trading for the first time in U.S. stock market history.
Apple launched a new device rental program with which users will be able to access some of their products through monthly payments, rather than buying them permanently.
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