cnbc_topnews

Apple plans to lease iPhones for $17.99 a month through partnership with Klarna

📰 source: cnbc_topnews · 💼 business

apple announced a new lease program called upgrade, starting at $17.99 per month for an iphone through a partnership with klarna. the program is available in apple stores and online, with one- or two-year leases after a soft credit check. similar options exist for apple watch, mac, and ipad.

the move comes after apple raised ipad and mac prices by at least $100 in june, citing memory costs. analysts expect iphone price hikes and say leasing shifts focus from upfront cost to monthly payments. apple discontinued its iphone upgrade program (which included applecare and started at $42/month) and will transition customers to this new plan. carriers at&t, verizon, and t-mobile offer installment plans, so apple is competing more directly. the new lease requires returning the device after 24 months, with options to buy or upgrade. no late fees from klarna, but leases terminate after three months of missed payments.

why it matters: apple shifts from its iphone upgrade program to klarna leasing, lowering monthly payments and potentially accelerating upgrade cycles while competing with carriers.

source: cnbc_topnews
sentiment: +0.20 · impact: 0.30

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects