Apple's extended warranty and support program
Apple has launched Apple Upgrade, a lease-to-own program through Klarna, allowing customers to lease iPhones, Watches, Macs, and iPads for 12–36 months with upgrade, return, or purchase options at term end. The move aligns with rising device prices and longer replacement cycles, aiming to keep customers in Apple’s ecosystem. Pricing starts at $17.99/month for iPhone and scales by device and term.
Apple reports strong revenue but warns that AI-driven memory shortages are tightening supply chains, forcing scrambling for chips and raising prices. Tim Cook signals on-device AI and a future Siri rollout as the company navigates memory costs and component constraints.