Apple will work with Klarna to launch an 'upgrade' device rental program to boost sales

On July 21, Apple (AAPL.O) plans to launch a rental program called "AppleUpgrade" that will be one of the biggest changes in the company's device sales model ever. According to people familiar with the matter, the service is expected to go online on July 28 and will initially be launched in the U.S. market, supporting most iPhone, Mac, iPad and AppleWatch models. Apple will work with the Klarna Group, which will provide financial support for the project. The plan will be launched first in the United States and will be launched simultaneously in Apple's physical retail stores and online platforms. The service will adopt a similar subscription model, allowing users to pay for the equipment in advance during the lease period, upgrade to new products in advance, or continue to retain the equipment after the lease period ends. In some cases, advance trading may require additional fees. Similar to the car rental model, users can also return equipment at the end of the lease. Among them, the rental period for iPhone and AppleWatch is 24 months, while for Mac and iPad it is 36 months.