No, You Probably Shouldn’t Lease Your iPhone
Apple has spent more than a decade tending to its thriving walled garden of products. Outgoing CEO Tim Cook’s core legacy at the company was turning it into a subscription service, where devices and services sync and communicate seamlessly, locking customers in.
Apple Upgrade is the latest iteration of that vision. On Tuesday, Apple announced a new product leasing service that lets you rent products like a new iPhone, iPad, Mac, or Apple Watch. (The news was leaked a week early by Bloomberg’s Mark Gurman.)
Apple Upgrade is a partnership with the financial company Klarna, known for its buy-now, pay-later services. If you sign up, you can pay a monthly fee to get a brand-new device. After a year or 24 months, you can keep paying the monthly fee but swap the hardware for something new. If you want something sooner, there’s a...
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