Apple to Offer Device Leasing Program With Financing Partner

Apple will launch a leasing program for its devices that allows customers to upgrade more frequently through a financing arrangement. The company said the initiative is intended to boost sales amid slower device upgrade cycles.

Under the plan, customers can lease devices and return them for newer models at set intervals. The company did not disclose specific terms or eligible products. The financing partner will handle the leasing agreements and payments.

Apple has faced slower iPhone sales in recent periods as consumers extend device lifespans. The leasing option is one of several measures the company is exploring to increase turnover of its hardware. No named executives or spokespeople were identified in the reports. The rollout timeline and geographic scope were not specified.