Apple is reportedly preparing to introduce a new financing option called the 'Apple Upgrade' program, expected to launch in the United States as early as July 28, 2026. This new initiative, developed in partnership with buy-now, pay-later company Klarna, will replace the long-standing iPhone Upgrade Program, which will cease accepting new sign-ups.
Expanded Device Leasing Options
Unlike its predecessor, which primarily focused on iPhones, the 'Apple Upgrade' program is designed to cover a broader spectrum of Apple's product lineup. Customers will reportedly be able to finance other popular devices, including Mac computers, iPad tablets, and Apple Watch models, offering greater flexibility for users looking to access the latest technology.
Flexible Lease Periods and End-of-Term Choices
The program will function as a device leasing service, allowing customers to rent products rather than purchasing them outright. Lease durations will vary by device category: iPhones and Apple Watches are expected to have lease terms of up to 24 months, while iPads and Macs may be leased for up to 36 months.
Upon the conclusion of the lease period, users will reportedly have several choices. They can opt to return the device to Apple, upgrade to a newer model by entering into a new lease agreement, or pay an additional fee to retain ownership of the device permanently.
Program Inclusions and Exclusions
While the program aims for broad coverage, certain exclusions are anticipated. Eligible devices under the 'Apple Upgrade' program are expected to include the latest generation models across the iPhone, iPad, Mac, and Apple Watch categories. However, reports suggest that some entry-level or older models, such as the Apple Watch SE, the basic iPad, the iPhone 16, and the MacBook Neo, may not be included. Furthermore, the new program may not incorporate AppleCare+ coverage, which was often bundled with the previous iPhone Upgrade Program.
Initial US Rollout, Global Plans Pending
The initial launch of the 'Apple Upgrade' program is slated for the US market. Details regarding a potential global rollout or specific launch dates for other regions remain unconfirmed. Further information is expected to be announced closer to the program's anticipated release date.