Apple to Launch New Device Leasing Program on July 28
Apple is set to launch a new device leasing service called Apple Upgrade on July 28 in the United States, according to a Bloomberg News report. The new subscription-style program is designed to make Apple devices more affordable through lower monthly payments while giving customers greater flexibility to upgrade their hardware. (Reuters)
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A New Way to Get Apple Devices
The Apple Upgrade program will reportedly support most iPhone, iPad, Mac, and Apple Watch models. Backed financially by Klarna, the service will allow customers to:
- Upgrade to a newer device before their lease ends.
- Pay off the device early.
- Keep the device after completing the lease term.
The service is expected to be available both online and at Apple retail stores across the U.S. (Reuters)
Lower Monthly Payments
Apple reportedly plans to market the program as offering lower monthly payments than its existing financing options.
To support the transition, the company is expected to discontinue new enrollments in its current iPhone Upgrade Program and standard financing plans. Unlike the existing iPhone Upgrade Program, the new leasing service is not expected to include AppleCare. (Reuters)
Some Devices Excluded
Not every Apple product will qualify for the new program. Reports indicate that certain entry-level devices—including the iPhone 16, Apple Watch SE, entry-level iPad, and MacBook Neo—will be excluded.
Business and education purchases are also expected to be ineligible. Apple has not officially announced the program or commented publicly on the reports. (Reuters)
Bottom Line
If launched as reported, Apple Upgrade would represent a significant shift in how customers purchase Apple hardware, moving from traditional financing toward a flexible leasing model that encourages more frequent device upgrades. The program is reportedly scheduled to debut on July 28 in the U.S. (Reuters)
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