Apple to Launch Leasing ‘Apple Upgrade’ Program with Klarna in US
Apple is preparing a new financing service called “Apple Upgrade” that will replace its current iPhone Upgrade Program. The plan, reported by Bloomberg and other outlets, will launch in the United States on 28 July 2026 and will be operated with the payment provider Klarna.
The service works like a long‑term lease: customers pay a fixed monthly fee for 24 months on iPhone and Apple Watch devices, and 36 months for iPad and Mac computers. At the end of the contract they can keep the device, return it, exchange it for a newer model, or pay the remaining balance early. The program aims to make Apple’s high‑priced hardware more affordable after recent price rises driven by global memory shortages.
Apple Upgrade will not automatically include AppleCare, and several entry‑level products – such as the iPhone 16, basic iPad models, Apple Watch SE and certain Mac variants – will be excluded. Klarna will assume the credit risk and handle the monthly payments, while Apple will market the service through its online store and physical retail locations. The move signals a shift toward subscription‑style ownership for consumer electronics.