APPLE LAUNCHES DEVICE LEASING PROGRAMME WITH KLARNA

Apple has introduced Apple Upgrade, a new leasing programme in partnership with the "buy now, pay later" service Klarna, allowing customers to spread the cost of devices across monthly instalments. The programme is available for iPhone, Apple Watch, Mac and iPad through the Apple Store online, the Apple Store app and physical Apple Store locations in the United States. Leasing prices start at $17.99 per month for iPhone, $11.99 per month for Apple Watch, $24.99 per month for Mac, and $11.99 per month for iPad. The programme replaces Apple's existing iPhone Upgrade Programme, which launched in 2015 and is no longer accepting new enrolments.

The leasing term lengths vary by device. iPhone and Apple Watch customers can choose one- or two-year leases, whilst Mac and iPad customers have two- or three-year options available. At the end of a lease term, customers can upgrade to a new model, purchase the device with a one-time payment, or return it and exit the programme. Approval requires a soft credit check. The launch comes weeks after Apple increased prices for MacBooks, iPads and other devices, citing memory and storage shortages.

Apple Upgrade launches as the company addresses affordability concerns following recent price rises across its hardware range. The programme's structure mirrors vehicle leasing, giving customers flexibility over device ownership and upgrade cycles. No confirmed date has been announced for potential expansion beyond the United States.