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Apple plans to introduce a new way of financing its devices. Instead of a one-time purchase, customers will be able to use a subscription-like or lease model. A program called Apple Upgrade is meant to make it easier to upgrade to newer models and to spread the cost of the purchase into monthly installments. According to available information, the service will launch on July 28. Initially, it will be available only to customers in the United States. The company hopes the new solution will encourage more people to regularly upgrade their devices.
Apple Upgrade will let you replace hardware without having to buy it outright
The new program will operate as a lease-like subscription. Customers will be able to use Macs and iPads for up to 36 months, paying monthly installments directly to Apple. At any time the user can pay off the device early, swap it for a newer model, or keep the device after the agreement 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 choosing to replace devices regularly. For users this means greater flexibility and easier access to the latest products. The program will be available both in Apple retail stores and when shopping online. Klarna will handle the financial servicing of the agreements.
Not all devices and customers will be eligible for the new offer
Apple Upgrade will not cover the manufacturer's entire product lineup. According to available information, cheaper devices will be excluded from the program, 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 program will launch only in the United States. Apple has not yet confirmed plans to expand the service to other countries, although such an option is being considered for the future. However, the company first needs to resolve legal issues related to implementing the program in foreign markets. The main target group is expected to be consumers who have felt Apple device price increases 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 project succeeds, it could become an important part of Apple's sales strategy in the coming years.
Apple Upgrade is meant to make it easier to purchase Mac computers, iPhones, iPads, and Apple Watches through a leasing model with monthly payments. The program 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 additional markets in the future.
source: techpowerup
