Apple To Let Users Lease iPhones, MacBooks Under New 'Upgrade' Plan: Reports

New Delhi:Apple is planning a major move to make its iPhone and other products accessible to more people. The company is now launching a new program that allows users to rent iPhones, MacBooks, and iPads. According to reports, the company will soon launch a program called 'Apple Upgrade', where devices can be rented.

Will Apple launch a program?

According to reports, Apple is launching a new program that will allow you to bring home iPhones, MacBooks, iPads, and Apple Watches under a subscription model. Under the subscription model, customers will pay a monthly fee for using the product, which is completely different from purchasing a product. This allows users to use the handset without purchasing it and even upgrade the device over time.

When will the Apple Upgrade Program launch?

According to the reports, Apple will launch the new upgrade program on July 28, with financial support from Klarna Group. Initially, this project will be launched in the US and will be available at both Apple Stores and online.

How will the Apple upgrade work?

The Apple Upgrade Program will operate similarly to car leasing in the US. The lease term will vary for different Apple products, and the device will need to be returned after the expiration date.

Device upgrades can also be made by paying an extra fee during the lease. For example, Apple's iPhone and Apple Watch will have a 24-month term, and MacBooks will have a 36-day term.

Will it require verification?

To take advantage of the Apple Upgrade Program, individuals will need to undergo a document and financial verification process, including a check of their credit score.

Apple Care will not be included in the Apple Upgrade Program. Certain products will also be excluded from the program, including entry-level iPhones and iPads.

The development comes just weeks after the company raised prices of its products to offset the increasing memory and chip shortage costs. A surge in AI-driven demand for data centres has forced consumer electronics companies into a fierce competition for dwindling supplies of the key components, driving prices sharply higher.