Rising costs of electronics with AI demand, Apple rolls out new leasing option

SOUTHWEST FLORIDA, (WINK) — Modern day back-to-school shopping now includes new and better technology, on top of basic necessities, but the financial burden is hitting families harder than ever.

The rise of artificial intelligence, or AI, is driving up the prices of laptops, tablets and other devices families need for the school year.

As of Aug. 1, 2026, Microsoft will be increasing its prices for various products worldwide.

For example, it says the price of Xbox consoles will increase anywhere between $100-150, depending on the product.

In a statement on its website, Microsoft said it hoped another price hike would not be necessary following increases last fall, but that, "unfortunately, console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027."

It adds that, "the entire consumer electronics industry is struggling with the current components crisis, but the effects are particularly hard on consoles."

Semiconductors, which are memory chips devices need, are also needed to power AI data centers.

With the rise of new AI data centers across the country, data from the Federal Reserve of St. Louis paints a clear picture of the impact that supply and demand for semiconductors is having on the price tag consumers see at the store.

For Southwest Florida parents, like Zach Maclean, he is always watching his wallet closely this time of year with school around the corner.

His son Logan is about to start his junior year at Riverdale High School, but despite budgeting for back-to-school shopping, he is still choosing his purchases carefully.

"This month, it's a little bit of a hit. I'm just not setting enough aside," Maclean said.

Maclean says that another growth spurt has Logan needing new clothes this school year. That means getting his son a new computer will unfortunately have to wait.

"The budget for his clothes just came up, so that kind of pushes the computer off for a little bit longer," MacLean said.

MacLean is not the only one delaying technology purchases.

A 2026 study by Deloitte Research shows overall consumer technology spending is expected to decrease by 16% this back-to-school season.

It comes as other tech giants are raising prices as well.

Just this summer, Apple increased prices on MacBooks and iPads by as much as $300.

However, as of the end of June, Apple has rolled out a new program to combat the rising costs: Apple Upgrade.

Similar to leasing a car, Apple now allows customers to lease iPhones, iPads, MacBooks and Apple Watches through a partnership with the buy-now-pay-later platform, Klarna.

At the end of the Apple Upgrade lease, customers can choose to buy the device outright, upgrade it to a newer device or simply return it.

For parents like Maclean, he is just focused on getting his children the basics before the first bell rings.

"Do what you can, you know, do the best you can is really what it comes down to," MacLean said.

However, there are other ways to afford electronic devices if needed.

Most retailers allow consumers to take advantage of shop-now-pay-later options.

Those plans typically involved either a higher payment plan up front in lieu of smaller interest rates, or lower monthly payments in exchange for a higher interest rate.

WINK Smart Anchor Mayzie Olson found one example at Walmart for a 14-inch Windows laptop costing $259. Possible options presented to consumers include paying $64.75 in four separate payments over a two-week period with 0% APR or paying $23.25 per month for one year with 13.99% APR. 

Families should look at their options closely before choosing a payment plan to see what works best for their budget.