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Klarna will provide the leasing service for Apple Upgrade, a new Apple hardware leasing programme in the United States. The arrangement covers purchases of iPhones, Macs, iPads and Apple Watches through Apple's retail channels.
The move gives Apple a new monthly payment option for devices sold online, in its app and in stores, while placing Klarna at the centre of a major consumer electronics financing offer. The programme is now available across Apple's US retail network.
Customers can lease eligible iPhones and Apple Watches over 12 or 24 months, while Macs and iPads are offered on 24- or 36-month terms. First-time enrollees can also trade in an existing device to reduce monthly payments during the initial lease period.
At the end of the lease, customers can upgrade to a newer model by starting a new lease, buy the device with a one-off payment or return it. Applications are available online and in stores, with Klarna handling approval.
Monthly pricing starts at USD $17.99 for iPhone, USD $11.99 for Apple Watch, USD $24.99 for Mac and USD $11.99 for iPad. Customers who use Apple Card for lease payments can also receive 3 per cent Daily Cash back.
Consumer finance
The launch extends Klarna's reach into large-ticket consumer purchases as payment providers push beyond short-term instalment plans. Hardware leasing gives the Swedish group exposure to longer repayment periods and recurring billing tied to one of the world's biggest consumer technology brands.
Klarna says it has more than 119 million active users globally and processes 3.4 million transactions a day. It is listed on the New York Stock Exchange under the ticker KLAR.
For Apple, the programme reshapes how it offers upgrade financing in its home market. With the launch of Apple Upgrade, Apple will no longer offer the iPhone Upgrade Program and iPhone Payments in the United States.
Customers currently on the older iPhone Upgrade Program will instead be directed, where eligible, to lease through Apple Upgrade, use Apple Card Monthly Instalments, buy devices outright or use carrier financing. The change consolidates Apple's leasing option under a model provided by Klarna rather than its previous in-house branded structure.
How it works
Applicants can apply within minutes through Apple Retail online, in-store, or through the Apple Store app. Approved in-store customers can leave with the device immediately, while online buyers can choose delivery or store pickup.
Customers will be able to monitor upcoming payments through the Klarna app. An AppleCare subscription can also cover leased products.
The fine print makes clear that the arrangement is a lease, not a purchase or a loan. Customers do not own the device at the end of the term unless they pay the purchase fee, and monthly charges may rise if the lease moves to a month-to-month extension after the initial term expires.
Apple also said early termination can lead to significant charges and that upgrades are subject to eligibility and approval. For iPhone leases, customers must choose an eligible carrier from AT&T, T-Mobile or Verizon, although the device remains unlocked.
Retail push
The leasing offer applies to a broad range of Apple products, although not every device is included. Some models, including iPhone 16, iPhone 16 Plus, Apple Watch SE, MacBook Neo, Mac mini, iPad with A16 and Studio Display, are excluded from the programme.
The launch comes as Apple continues to lean on financing, trade-ins and subscription-style services to support hardware sales in a mature smartphone and personal computer market. Leasing can lower upfront costs for consumers, but it also gives manufacturers a structured way to bring customers back for regular upgrades.
"At Apple, we put the customer at the center of everything we do, and we're thrilled that Apple Upgrade offers our customers, both online and in-store, a more flexible way to pay for the products they love," said Karen Rasmussen, Vice President of Apple Store Online at Apple.