Apple is set to introduce a new device leasing program, branded as 'Apple Upgrade,' in the United States on July 28.
The initiative is designed to stimulate hardware sales by offering consumers a subscription-based alternative to outright purchases, according to reports citing individuals with knowledge of the plan.
The launch comes as the tech giant seeks to deepen customer engagement and create more predictable revenue streams through recurring payments.
By lowering the upfront cost barrier for iPhones, iPads, and Macs, Apple aims to capture a broader segment of the market, particularly younger consumers and those sensitive to high initial capital outlays.
This strategic move follows a period of renewed optimism for Apple shares, which recently benefited from significant price target increases by analysts.
The stock has stood out as a relative bright spot in the technology sector, which has otherwise been weighed down by broad-based selling in chip stocks and concerns over slowing demand in other hardware categories.