In the United States, Apple is set to introduce a new lease-to-own program called Apple Upgrade in collaboration with Klarna. This program is scheduled to launch on July 28, 2026, and will allow consumers to pay for devices such as iPhones, iPads, Macs, and Apple Watches over multi-year periods. The leasing terms will vary, with iPhones and Apple Watches available for up to 24 months, while Macs and iPads can be leased for up to 36 months. At the end of the leasing period, customers will have the option to either keep the devices or return them, and they will also have the opportunity to upgrade to newer models. This initiative comes as Apple faces challenges related to supply chain issues, particularly a shortage of memory chips that has been exacerbated by the demands of the AI industry. As a result, Apple has announced plans to raise prices on many of its products, making the new leasing program a strategic move to make these increased costs more manageable for consumers. The company previously had a similar program called iPhone Upgrade, but it will cease new sign-ups for that program to focus on the broader Apple Upgrade initiative. This shift occurs during a transitional period for Apple, as new CEO John Ternus takes charge and the company navigates legal challenges, including a lawsuit against OpenAI for alleged trade theft. Overall, the Apple Upgrade program appears to be a calculated effort to bolster sales and maintain the company's momentum in a competitive market.
