Apple is reportedly launching a new leasing program on July 28th, allowing customers to finance iPhones, Macs, iPads, and Apple Watches through a partnership with financial firm Klarna.

Key Points

• The program offers 24-month leases for iPhones and Apple Watches, and 36-month leases for iPads and Macs.
• Financial services company Klarna will act as the primary backer, requiring a soft credit check for enrollment.
• Budget-friendly devices, including the base iPad, iPhone 16, and Apple Watch SE, are excluded from the new leasing options.
• Unlike the existing iPhone Upgrade Program, the new service will not include an AppleCare subscription.
• The initiative aims to provide flexible payment structures as component shortages and recent price hikes impact consumer hardware costs.

Why it Matters

This shift toward a lease-to-own model allows Apple to maintain hardware sales volume despite rising component costs and recent product price increases. By expanding financing beyond just iPhones, the company aims to lower the barrier to entry for its premium Mac and iPad lineups.