Apple is reportedly teaming up with deferred payment processor Klarna to launch a new lease-to-own program for its devices.

Bloomberg reported on Tuesday that the program, called Apple Upgrade, will launch next Tuesday, July 28. It will allow consumers to pay for purchases over multi-year periods, including iPhones, iPads, Macs and Apple Watches.

Bloomberg writes that the lease term for iPhone and Apple Watches will be up to 24 months, while leases for Mac and iPad will be up to 36 months. Devices can be kept or returned at the end of the lease period, while upgrades to new devices will also be available (hence the name of the program). The report vaguely notes that in some cases, “transactions will incur an additional fee.”

Apple already has a similar program called iPhone Upgrade, although the company plans to stop allowing new customer registrations to develop a broader, more inclusive Apple Upgrade program, according to the report.

A leasing program is an obvious strategy for Apple right now. The iPhone maker has been battling supply chain issues caused by “RAMaggeddon,” an industry-wide memory chip shortage that is driving up the price of hardware. That shortage has been largely driven by the artificial intelligence industry, which is consuming so much memory that it doesn’t leave much for the rest of us.

To address these issues, Apple recently announced it would be raising prices, and Upgrade clearly seems designed to make those elevated prices more acceptable to consumers.

TechCrunch reached out to Apple and Klarna for more information.

Overall, the new program seems like a smart move for Apple, which is currently facing a hectic transition period. As new CEO John Ternus takes the reins, the company also entered into a legal battle with superstar artificial intelligence startup OpenAI, suing the company for alleged business theft.

Bottom line: The company is very busy and anything that can shore up sales and keep the business moving in the right direction is worth trying.