Apple is reportedly preparing to introduce a new device leasing service called Apple Upgrade, offering customers another way to access its products without buying them outright. According to a report by Bloomberg’s Mark Gurman, the program could launch in the United States on July 28 and cover a wide range of Apple devices, including iPhones, iPads, Macs, and Apple Watches.
If introduced, the new program would replace Apple’s existing iPhone Upgrade Program for new customers while expanding leasing options to additional product categories.
The reported Apple Upgrade program is expected to let customers lease eligible Apple devices through both Apple’s online store and its physical retail locations.
Klarna is reportedly serving as the financial partner for the program, replacing Citizens Bank, which currently backs the iPhone Upgrade Program.
The service is expected to be available only in the United States at launch.
Devices
According to the report, the program will include most of Apple’s major hardware lineup.
Eligible devices are expected to include:
- iPhone
- iPad
- Mac
- Apple Watch
However, some products may not be included.
Reported exclusions include:
| Possibly Excluded Devices |
|---|
| Apple Watch SE |
| Entry-level iPad |
| iPhone 16 |
| MacBook Neo |
Business and education purchases are also expected to be excluded from the program.
Leasing
The reported lease terms will vary depending on the product category.
| Device Category | Lease Period |
|---|---|
| iPhone | 24 months |
| Apple Watch | 24 months |
| Mac | 36 months |
| iPad | 36 months |
Customers are expected to have several options during or at the end of the lease.
Options
According to the report, participants may be able to:
- Pay off the device before the lease ends.
- Upgrade to a newer model before the lease expires.
- Return the device after the lease period.
- Pay an additional amount to keep the device permanently.
Apple has not officially confirmed these options.
Changes
The launch of Apple Upgrade is also expected to bring changes to Apple’s current upgrade offering.
Apple reportedly plans to stop accepting new enrollments for the existing iPhone Upgrade Program beginning July 28.
Current members are expected to remain on their existing plans for the time being.
Difference
One of the biggest reported differences involves AppleCare+.
The current iPhone Upgrade Program includes AppleCare+ protection as part of the monthly payment.
Under the reported Apple Upgrade program, AppleCare+ would not be included automatically. Customers who want device protection would need to purchase the coverage separately.
Another change is the financing partner.
| Feature | Current Program | Reported Apple Upgrade |
|---|---|---|
| Financing Partner | Citizens Bank | Klarna |
| AppleCare+ Included | Yes | No |
| Device Categories | iPhone | iPhone, iPad, Mac, Apple Watch |
Availability
At present, Apple has not officially announced the Apple Upgrade program.
If the reported launch timeline is accurate, more details regarding pricing, eligible devices, monthly payments, and terms are expected to be revealed when the program becomes available.
The reported Apple Upgrade program would expand Apple’s financing options beyond the iPhone by including iPads, Macs, and Apple Watches under a single leasing service. While the company has not confirmed the details, the reported changes suggest a broader approach to device leasing, with flexible end-of-term options and Klarna as the financing partner. Customers interested in the service may have more information once Apple makes an official announcement.
FAQs
What is Apple Upgrade?
It is a reported device leasing program from Apple.
Which devices may be included?
iPhone, iPad, Mac, and Apple Watch models.
Who is the reported financing partner?
Klarna is expected to provide financing.
Will AppleCare+ be included?
Reports suggest it will be sold separately.
Will the program launch outside the US?
It is currently expected to launch only in the US.
