According to some aspects of the present disclosure, example interleaved power supplies and corresponding control methods are disclosed. Example interleaved power supplies include an input terminal, an output terminal, and a first phase circuit coupled between the input terminal and the output terminal. The first phase circuit includes a first inductor and a first switch. The power supply also includes a second phase circuit coupled between the input terminal and the output terminal. The second phase circuit includes a second inductor and a second switch. The power supply further includes at least one current sensor, and a controller operable to control the first phase circuit and the second phase circuit in an interleaved mode when the sensed output current is below a current threshold and to control the first phase circuit and the second phase circuit in an in-phase mode when the output current is above the current threshold.