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Breaking News | Apple Launches Device Leasing Program Amid Memory Chip Price Surge
1 min read
Suhaib
New subscription model spreads rising hardware costs into monthly payments as memory shortage forces Mac and iPad price hikes. Trade-in credits and upgrade flexibility may defend unit volumes against RAMageddon headwinds.
Key Numbers
What happened
Apple launched Apple Upgrade, a leasing program for iPhone, Mac, iPad, and Apple Watch through partnership with Klarna. Monthly payments start at $17.99 for iPhone, $11.99 for Apple Watch, $24.99 for Mac, and $11.99 for iPad. Customers select one- or two-year terms for iPhone and Watch; two- or three-year terms for Mac and iPad. At lease end, customers can upgrade to the latest device, purchase the current unit with a one-time payment, or return it.
The program arrives as Apple confronts RAMageddon, the industry-wide memory chip shortage driving hardware price increases. Apple recently raised prices on Mac and iPad lineups while sparing iPhone. Trade-ins through Apple Trade In reduce monthly lease costs; Apple Card users earn 3% Daily Cash on lease payments.
Apple is discontinuing its existing U.S. in-house financing programs, including iPhone Upgrade Program and iPhone Payments, consolidating device financing under the new Klarna-backed structure.
What to watch
Mac and iPad sales velocity under new lease pricing versus prior installment programs
iPhone pricing decisions as memory costs persist
Customer adoption rate of trade-in credits to offset lease payments
Also Worth Watching
Apple's shift to Klarna for device leasing marks a high-profile win for buy-now-pay-later platforms in premium hardware. Affirm competes directly in consumer financing and may face pressure to match enterprise deal flow as Apple consolidates payment infrastructure with a single partner. AFRM (Affirm Holdings Inc $73.05 (+4.0%) - )
Company Overview
Apple designs and sells consumer electronics including iPhone, Mac, iPad, Apple Watch, and AirPods, alongside software and digital services. The company generates recurring revenue through its high-margin services ecosystem including the App Store, Apple Music, iCloud, Apple TV+, and subscription offerings.
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AAPL
Apple Inc
NASDAQ
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Information Technology
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