Apple plans to launch a device leasing program to boost sales.

On July 21st local time, it was reported that Apple is preparing to launch a leasing plan called "Apple Upgrade", which will be one of the biggest changes in the company's device sales history. Sources said that this new service plan will go online on July 28th and will support most iPhone, Mac, iPad, and Apple Watch models. Apple will partner with the Swedish financial technology company Klarna Group to provide financial support. The plan will initially be launched in the US market and will cover both Apple offline retail stores and online stores. According to reports, "Apple Upgrade" will operate on a subscription-like model, allowing users to pay off the device early, upgrade to a new model early, or keep the device after the leasing period ends; some actions will incur additional fees. Similar to car leasing, users can also return the device after the leasing period ends. The leasing period for iPhone and Apple Watch is 24 months, while for Mac and iPad it is 36 months. Users will need to pass a soft credit check to be eligible.