Apple is expected to unveil its first foldable iPhone in September. According to Bloomberg’s Mark Gurman, the device will be among the first major products supported by Apple’s recently launched Apple Upgrade leasing program.
Apple Upgrade, backed by Klarna, lets customers pay monthly for eligible Apple devices. At the end of the lease term, users can upgrade to a newer device, return the product, or pay the remaining balance to keep it. Apple manages the customer experience, while Klarna handles the financing.
Apple Upgrade
Apple had previously explored an in-house hardware subscription service but reportedly discontinued the project due to implementation challenges and regulatory concerns before introducing the current leasing model with Klarna. Gurman says customers will be able to lease the foldable iPhone instead of making a one-time purchase.
Pricing and availability
The foldable iPhone is expected to debut in September with a price tag of more than USD 2,000 (Rs. 1,90,360 approx.). Gurman says customers will be able to lease the device for around $60 to $70 per month through Apple Upgrade instead of paying the full amount upfront.