Apple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur Sales - Bloomberg.com

What the report says

Bloomberg reported that Apple Inc. is preparing a new device leasing service called Apple Upgrade, a shift the outlet described as one of the company’s most significant changes to its hardware sales model. The program is planned for introduction on July 28, according to people familiar with the matter who spoke to Bloomberg on condition of anonymity because the initiative has not been announced.

The reported service would cover most models across Apple’s major product lines, including the iPhone, Mac, iPad and Apple Watch. Bloomberg said Apple is working with Klarna Group Plc, which would provide financial backing for the leasing arrangement. The article did not include pricing, contract terms, regional availability or details on how upgrades, returns or ownership would work.

If launched as described, the program could give Apple another way to encourage customers to refresh devices more regularly at a time when many consumers hold on to phones and computers for longer. Leasing may also make higher-priced products feel more accessible by spreading payments over time, though the total cost and consumer obligations would depend on terms that have not yet been reported.

The development would build on a broader industry trend of hardware companies and retailers offering installment plans, trade-in programs and subscription-like options. Bloomberg’s report indicates Apple would be taking a more direct role in that model for several of its flagship devices, with Klarna positioned as the financing partner.