Apple Reportedly Planning New Device Leasing Program

Apple is reportedly planning to introduce a new device leasing program, dubbed "Apple Upgrade," with a target launch date of July 28th. This initiative is expected to replace the current iPhone Upgrade Program and standard financing options for new iPhones.

The program is said to function similarly to a car lease, providing users with options to upgrade to a newer device early, keep their current device at the end of the lease term, or return it. Financial backing for the program is reportedly being handled by Klarna, and signing up will require a soft credit check.

This move comes amid rising hardware costs due to component shortages and increased RAM prices, potentially offering consumers a more flexible way to acquire Apple's latest technology. The "Apple Upgrade" program is expected to extend to a range of Apple products, including iPads and Macs, and possibly Apple Watch.

Further details regarding the program's specific terms and product eligibility are anticipated closer to the official launch date. The aim is to provide consumers with accessible financing for Apple's hardware ecosystem.