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Apple plans to introduce a new way of financing its devices. Instead of a one-off purchase, customers will be able to use a model similar to a subscription or a lease. The programme, called Apple Upgrade, is intended to make it easier to swap equipment for newer models and spread the cost of purchase into monthly instalments. According to available information, the service will start on 28 July. Initially it will be available only to customers in the United States. The company hopes that the new solution will encourage more people to replace their devices regularly.
Apple Upgrade will let users replace devices without needing to buy them outright
The new scheme will operate as a leasing arrangement resembling a subscription. Customers will be able to use Mac computers and iPads for up to 36 months, paying monthly instalments directly to Apple. At any time the user can pay off the device early, swap it for a newer model or keep the device once the contract ends. For iPhones and Apple Watch models the financing period will be shorter, at 24 months. Apple will gain steady monthly revenue and a larger number of customers opting to replace devices regularly. For users this means greater flexibility and easier access to the latest products. The scheme will be available both in Apple’s retail stores and for online purchases. Klarna will handle the financial servicing of the contracts.
Not all devices and customers will benefit from the new offer
Apple Upgrade will not cover the manufacturer's entire product range. According to available information, cheaper devices will be excluded from the programme, such as the Apple Watch SE, iPhone 16 and MacBook Neo. The offer will also not be available to business customers or the education sector. Initially the programme will be launched only in the United States. Apple has not yet confirmed plans to expand the service to other countries, although such a move is being considered for the future. However, the company first needs to resolve legal issues related to rolling out the programme in foreign markets. The main target group is expected to be consumers who have felt the rise in Apple device prices and are looking for a more convenient way to finance them. The new service fits into the increasingly popular sales model based on subscriptions and regular payments. If the programme succeeds, it could become an important element of Apple's sales strategy in the coming years.
Apple Upgrade is intended to make buying Macs, iPhones, iPads and Apple Watch easier through a leasing model with monthly payments. The programme will give customers greater flexibility when replacing their devices, and Apple will secure a more stable revenue stream. For now the service will be available only to users in the United States, but it may be expanded to other markets in the future.
source: techpowerup
