'Apple Upgrade' Program Launching on Tuesday
Key Points:
- Apple will launch a new "Apple Upgrade" leasing program in the U.S. on Tuesday, July 28, replacing the existing iPhone Upgrade Program for new sign-ups.
- The program, in partnership with Klarna, will offer 24-month leases for iPhones and Apple Watches and 36-month leases for iPads and Macs, with options to return, upgrade, or keep the device after the term.
- Some lower-priced devices, such as the Apple Watch SE, entry-level iPad, iPhone 16, and MacBook Neo, will not be eligible for the new program.
- Unlike the previous iPhone Upgrade Program, Apple Upgrade plans will not include AppleCare+ coverage bundled in the monthly payments.
- Apple intends to market the program as offering lower monthly payments focused on leasing rather than traditional financing.