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Apple may lease Macs and iPhones to cut upfront costs
Apple may launch a leasing program for iPhones, Macs, and iPads on July 28, lowering upfront costs while limiting ownership and AppleCare coverage.
Image: Gizmodo
Apple may soon let customers lease an iPhone, MacBook, or other device instead of buying it outright. The rumored Apple Upgrade program could reduce upfront costs as Apple’s high-end hardware becomes more expensive, but customers would initially have less control over the products they pay for.
According to Bloomberg’s Mark Gurman, Apple is considering 24-month leases for most iPhone and Apple Watch models, while Macs and iPads could be leased for three years. Customers would reportedly be able to pay off a device early, purchase it at the end of the term, or upgrade to a newer model—an arrangement similar to a car lease.
The Mac Studio is another piece of expensive equipment that may cost less if leased over time. © Sherri L. Smith / Gizmodo
Apple Upgrade pricing and ownership
The leases could be arranged online or at an Apple Store, with Klarna reportedly handling payments. That would require a soft credit check. Bloomberg says the terms may cost less than Apple’s current financing options while offering longer repayment periods.
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The trade-off is ownership. Customers would not own their devices at the start of the agreement, and leased products reportedly would not qualify for AppleCare. Bloomberg has not said whether Apple would impose a cancellation fee for ending a lease early.
HP already offers a similar leasing service for high-end productivity and gaming laptops, though its program includes a substantial cancellation fee. With any lease, customers must ultimately pay off the device to keep it—or give up the chance to resell it themselves.
Apple Upgrade launch date
Gurman says Apple could launch the program on July 28, when the company is expected to disclose the lease terms. The offer may appeal to customers priced out of products such as the $2,500 M4 Max Mac Studio and $4,100 M5 Max MacBook Pro.
Apple’s pricing pressure is broadening: an upcoming folding iPhone could cost more than $2,400, according to analyst firms including IDC, while memory prices are rising across computing devices. Leasing may lower the initial bill, but customers could still spend heavily without owning the hardware when the term ends.
Enterprise Editor
Marcus follows the money. He covers enterprise software, cloud architecture, and the tectonic shifts in Big Tech strategy. He translates dense earnings calls and complex M&A activity into actionable insights about where the industry is actually heading. If a tech giant makes a silent pivot, Marcus is usually the first to notice.
via Gizmodo
