The tech giant Apple has launched a hardware leasing programme in partnership with a financial services provider, allowing customers to lease iPhones at a monthly rate of $17.99 and other devices. This new leasing option is available exclusively in the United States.
In related news, the UK's regulator has taken steps to oversee the use of deferred payment credit. Starting 15 July 2026, the Financial Conduct Authority will regulate interest-free credit agreements that are repayable in 12 or fewer instalments over 12 months or less. Agreements entered into before this date remain unregulated.
This move by Apple comes on the heels of recent price hikes across its product lineup. Last month, the company increased prices for certain Mac and iPad models by $200 or more. According to top executives, the cost of memory and storage chips, driven by demand from artificial intelligence companies, has made it necessary to raise prices on certain iPhone models.
Apple's shares saw a slight increase in early trading on the day the leasing programme was announced, while shares of the financial services provider involved in the programme fell marginally. The company had previously achieved record iPhone sales for the final quarter of 2025, with total revenue reaching $144bn, briefly surpassing a $5 trillion valuation earlier this year.
The company is set to undergo a leadership transition in the coming months, with John Ternus taking over as chief executive from Tim Cook on 1 September. This change comes just before Apple is expected to unveil a highly anticipated new product: a foldable iPhone.
