Apple stands, according to one report by Bloomberg’s Mark Grumanabout to introduce a new program that will make it easier for consumers to get the latest devices. Under the name Apple Upgrade the company will start a leasing program on July 28.
This program will be available for almost the entire hardware line, including the iPhone, Mac, iPad and Apple Watch. For the financial handling, Apple is joining forces with the well-known Swedish payment service Klarna.
What does Apple Upgrade entail?
Apple has not yet officially announced the leasing program, but according to Bloomberg it will do so soon. The program is expected to launch in the US on July 28, 2026, and customers will be able to take it out through the (Online) Apple Store.
With the new program, Apple aims to offset rising hardware prices and flattening demand by making devices more accessible through monthly installments. Instead of paying the entire purchase price at once, you conclude a lease contract after a quick credit check.
The term of the lease contract depends on the type of product:
- 24 months for the iPhone and Apple Watch.
- 36 months for the Mac and iPad.
At the end of the term, Apple offers several options: the user can trade in the device for a newer model, pay off the remaining amount to purchase the hardware permanently, continue the monthly payments or simply return the device.
Collaboration with Klarna
The collaboration with Klarna enables Apple to offer a large-scale leasing program for almost its entire range for the first time, without the tech giant itself having to bear the financial risk of defaulters. If the Swedish ‘buy now, pay later’ service takes care of the credit check and monthly collections, Apple can fully focus on sales in the (online) Apple Store.
iPhone Upgrade Program ends
It iPhone Upgrade Program is Apple’s existing subscription that gives you the latest iPhone every year in the US for a fixed monthly fee, including standard coverage via AppleCare+. With the arrival of the new Apple Upgrade, this program appears to be disappearing and being merged into the new design: instead of a specific subscription for only smartphones, Apple is switching to a broader leasing concept through financial partner Klarna that also includes Macs, iPads and Apple Watches.
No AppleCare+ and exceptions
The basic rate of the lease contract does not include coverage through AppleCare+. This should be added separately if desired. In addition, there are a number exceptions. Not all models are immediately available; For example, certain recent devices (such as the latest iPhone series) may still be excluded at the start. The cheapest Apple products such as the Apple Watch SE, MacBook Neo, iPhone 16 and entry-level iPad also seem to be excluded from this service.
Limited rollout: US only
The program goes on July 28 has started, but is for the time being only available in the United States. It is not yet known if and when Apple Upgrade will come to the Netherlands and Belgium.