Klarna Stocks Soar on Report of Apple Partnership for Device Leasing Program

Klarna's stock price surged on Tuesday after Bloomberg reported that Apple plans to launch a new device leasing program called 'Apple Upgrade' on July 28, with Klarna serving as the financing partner.

The program would allow customers to lease iPhones, Macs, iPads, and Apple Watches through monthly payments, with options to upgrade, buy out or return devices at the end of the term. According to the report, Apple Upgrade will gradually replace Apple's existing iPhone Upgrade Program and standard financing options while offering lower monthly payments.

Klarna shares rose as much as 3% in midday trade to just under $20, while Apple stock edged 0.7% higher.