Apple partners with Klarna to launch a lease-to-own program for iPhone, iPad, and Mac

Apple is reportedly teaming up with deferred payment processor Klarna to launch a new lease-to-own program for its devices.

Bloomberg I mentioned Tuesday that the program – called Apple Upgrade – is scheduled to launch next Tuesday. It will allow consumers to pay for their purchases over multi-year terms, including iPhones, iPads, Macs and Apple Watches.

Bloomberg writes that leases for iPhones and Apple Watches will be up to 24 months, while leases for Macs and iPads will be up to 36 months. Devices can be kept or returned at the end of the rental period, while upgrades to new devices will also be available (hence the name of the program). The report vaguely notes that in some cases, “transactions will incur additional fees.”

Apple already has a similar program called iPhone Upgrade, though the company plans to stop allowing new customer registration to create a broader, more comprehensive Apple Upgrade program instead, the report said.

The leasing program is an obvious move for Apple at this point. The iPhone maker has It was struggling with supply chain issues Caused by “RAMageddon” – an industry-wide shortage of memory chips that drives up hardware prices. This shortage has been largely caused by the AI ​​industry, which eats up so much memory that it doesn’t leave much for the rest of us.

To deal with these issues, Apple recently announced this It will raise pricesThe upgrade is clearly designed to make these higher prices more acceptable to consumers.

TechCrunch has reached out to Apple and Klarna for more information.

Overall, the new software seems like a conservative move for Apple, which is currently facing a hectic transition period. like New CEO John Ternos He takes the reins, as the company has decided to do Entering into a legal battle With AI startup OpenAI – suing the company for alleged commercial theft.

In short: The company is fully occupied, and anything that can boost sales and keep the business moving in the right direction is a smart move.