Apple has introduced a new leasing program that allows customers in the United States to lease selected iPhones, Macs, iPads and Apple Watches instead of purchasing them outright, as the tech giant seeks to make its devices more affordable amid rising electronics prices.
The program launch on Tuesday in partnership with payment platform Klarna and will be available through Apple retail stores, its website and the Apple Store app. iPhones and Apple Watches can be leased for 12 or 24 months, while Macs and iPads will be offered on 24- or 36-month lease terms, reports CNN
The eligible devices include the iPhone 17 lineup, iPhone Air, Apple Watch Series 11, Apple Watch Ultra 3, MacBook Air, MacBook Pro, iMac, Mac Studio, iPad Air, iPad Pro and iPad Mini. Lower-priced devices, including the iPhone 16, MacBook Neo, base-model iPad and Apple Watch SE, are not included in the program.
The new initiative replaces Apple's iPhone Upgrade Program, which allowed users to upgrade to a new iPhone after making 12 monthly payments. The latest leasing model extends similar flexibility across a wider range of Apple products while reducing monthly payment costs.
According to Apple's website, leasing an eligible iPhone starts at $17.99 per month, compared with roughly $42 per month under the previous iPhone Upgrade Program.
Francisco Jeronimo, an analyst at market research firm International Data Corporation, said the program could encourage consumers to view Apple devices more like subscription services than major one-time purchases. He noted that Americans are also keeping their smartphones longer, with a Reviews.org survey showing the average ownership period has risen to 22 months.
The move comes as analysts expect Apple to increase prices for future products. Last month, the company raised prices on several Mac and iPad models due to an ongoing memory shortage driven by growing demand from data centres.
Mike Howard, vice president of memory coverage at TechInsights, recently told CNN that consumers may need to prepare for iPhones priced around $1,500 instead of the current $1,000-$1,200 range.
Apple's leasing program arrives ahead of its expected September iPhone launch, when the company is widely anticipated to unveil its first foldable iPhone, which Bloomberg has reported could become its most expensive smartphone to date.
Jeronimo said the leasing option comes at a critical time for Apple, warning that further price increases could slow device upgrade cycles while making flexible payment options more attractive to consumers.
