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Apple launches ‘Upgrade’ device leasing program in partnership with Klarna
Apple has rolled out a new device leasing initiative in partnership with Klarna, allowing American consumers to spread the cost of iPhones, Apple Watches, Macs, and iPads across monthly payments starting from as low as $11.99 to $24.99. The program provides lease terms of one to three years depending on the device, and grants customers the flexibility to upgrade to newer models, purchase their current device outright, or return it when their lease expires.
The new offering comes at a time when Apple has raised prices across its Mac and iPad ranges due to industry-wide chip shortages, and represents a departure from the company's previous financing arrangements, which will be phased out. Customers who join Apple Upgrade can reduce their monthly costs by trading in existing devices and receive cash-back rewards when paying through Apple Card, with lease management handled entirely through the Klarna app.
In short
- Apple Upgrade leasing program launches with Klarna, offering monthly payments for iPhones, Watches, Macs, and iPads
- Customers can upgrade devices at lease end or purchase outright, replacing Apple's previous financing programs
- Initiative addresses recent price increases driven by industry memory chip shortages
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Leasing programmes increase accessibility to premium technology, enabling millions of consumers to use iPhones and Macs who cannot afford lump-sum purchases. The model encourages sustainability by facilitating device returns for refurbishment rather than disposal, whilst monthly flexibility allows users to upgrade when technology genuinely improves. For lower-income consumers particularly, spreading costs across manageable monthly payments is the difference between participation in the digital economy and exclusion.
The case against
Device leasing typically costs substantially more than purchasing outright over the lease term, with consumers ultimately paying more for the privilege of not owning their devices. The model normalises consumption-as-subscription, eroding consumer autonomy and ownership whilst generating unnecessary environmental waste through frequent upgrade cycles. Critics contend this structure exploits those with limited savings, trapping them in perpetual debt for devices they will never own, enriching corporations at the expense of financial security.
Explained simply
Device leasing is an alternative to purchasing technology outright, allowing customers to pay a monthly fee to use a device for a set period before returning it. This model has grown increasingly popular as it lets users access newer technology regularly without committing to large upfront costs.
Apple has launched a device leasing programme called Upgrade in partnership with payment firm Klarna, available to American consumers. The scheme allows customers to lease iPhones, Apple Watches, Macs and iPads with monthly payments from $11.99 to $24.99, depending on the device. Apple is replacing its previous financing arrangements with this new model.
The launch comes as Apple has raised prices across its Mac and iPad ranges due to industry-wide chip shortages. As device prices have increased, leasing provides an alternative route to access the latest technology. The programme represents a shift in how Apple finances customer access to its products, moving away from traditional purchase-based financing.
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