● Covered by 4 sources · 5 reportsMedium impact
Apple to Launch Leasing Program 'Apple Upgrade' Featuring Klarna Partnership
Apple is set to introduce a new leasing program called 'Apple Upgrade' in partnership with Klarna on July 28. This program will replace existing iPhone payment programs and allow leasing of iPhones, iPads, Macs, and Apple Watches over 24-36 month terms. It aims to offer more flexible payments amid rising device costs, but does not include AppleCare coverage.
Key points
- Apple launching new 'Apple Upgrade' leasing program July 28.
- Powered by Klarna, offering 24-36 month leases for devices.
- Replaces current iPhone Upgrade Program and payment plans.
- Excludes certain models like iPhone 16 and MacBook Neo.
- Program offers flexibility with potential extra fees.
Apple Introduces New Leasing Program
Apple is preparing to launch a new leasing program named 'Apple Upgrade' on July 28. In partnership with Klarna, the program is designed to provide multi-year leasing options for its major product lines including iPhones, iPads, Macs, and Apple Watches.
The program allows customers to lease devices over 24 months for iPhones and Apple Watches, and 36 months for Macs and iPads. Exclusions apply, such as the iPhone 16, base model iPad, Apple Watch SE, and MacBook Neo.
Details of Apple Upgrade
'Apple Upgrade' functions similarly to a subscription with lease-to-own pricing. Customers can upgrade their device early, or return or keep the device at the end of the lease term, though some actions may incur additional fees.
Apple's existing iPhone Upgrade Program, and other device payment plans through Citizens One, will be phased out to make way for this broader initiative. Unlike the former program, Apple Upgrade does not include AppleCare coverage.
Partnership with Klarna
Apple has teamed up with Klarna, a known financial services provider, to facilitate its new leasing program. A soft credit check will be required for enrollment, providing a new financial model as Apple navigates industry-wide price increases due to component shortages.
Implications for Apple Customers
The shift to Apple Upgrade represents a strategic change in how the tech giant offers device financing, potentially making high-priced Apple devices more accessible. Amid rising hardware costs, this program offers flexibility in payments, although at the cost of losing AppleCare within the leasing service.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
The daily brief
One email each morning: the day's tech stories, clustered across outlets and summarized. No account needed.
One email a day. Unsubscribe in one click, any time.
Today's brief
Spend a few minutes, get the whole day. Every topic's top stories in one hands-free rundown — listen, watch, or read the transcript.
▶ Play today's brief
New every morning, and the back catalogue is archived by date.
How outlets covered it
Apple has partnered with Klarna to introduce a lease-to-own program called Apple Upgrade for devices. This program allows consumers to pay for iPhones, iPads, Macs, and Apple Watches over multi-year terms, potentially increasing accessibility amidst rising hardware prices due to supply chain constraints.
Apple is preparing to launch a new subscription service called Apple Upgrade, offering devices like iPhones and iPads. This service, powered by Klarna, aims to provide flexible leasing options but comes amid recent price increases on many Apple products.
Apple is set to launch the 'Apple Upgrade' program to offer lease-to-own pricing for devices like iPhones and Macs. This program allows customers to lease a device for 24 or 36 months and will be financially supported by Klarna, requiring a soft credit check to enroll.
Apple is reportedly discontinuing the iPhone Upgrade Program to launch a new leasing option called "Apple Upgrade." This change indicates a shift in Apple's payment strategy and may affect existing customers with changes to financing and service options.
Apple will debut the ‘Apple Upgrade’ leasing program on July 28, allowing lower payments on devices. The program, utilizing Klarna for financing, enables users to lease devices with conditions on certain models and no inclusion of AppleCare.