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Apple's new Apple Upgrade program through Klarna lets customers lease iPhones with the option to upgrade before the lease term ends. While convenient, users should carefully consider the total cost of ownership before committing.
Apple is launching Apple Upgrade, a device leasing program backed by Klarna, set to debut on July 28. The service will support most iPhone, Mac, iPad, and Apple Watch models.
Klarna has applied for a U.S. banking licence, marking its boldest move yet in expanding into American markets. The Swedish fintech aims to gain regulatory authority to offer a broader range of financial services in the U.S.
Klarna has announced a $1.7 billion deal to free up capital for lending as its stock has plummeted 76% since its IPO. The Swedish fintech is looking to strengthen its financial position amid macroeconomic headwinds and investor concerns.