Klarna trades up after report of Apple leasing partnership

Apple shares rose modestly after Bloomberg reported Apple is partnering with Klarna to launch a new leasing/subscription-style program for iPhones, Macs, iPads and Apple Watches. The service, called Apple Upgrade, is set to begin July 28 and will let users pay off devices early, upgrade to newer models, or return them at lease end, with some fees applying. Apple is using Klarna to avoid taking on credit risk while expanding financing options for consumers. The move could support device sales and increase retention by lowering the upfront cost of Apple hardware, though it excludes AppleCare and several lower-end or business/education purchases. Klarna benefited the most in trading, with its stock jumping 5%, while Apple gained 0.5%.