Apple’s New ‘Upgrade’ Leasing Program Coming July 28 with Klarna

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Apple will expand its iPhone Upgrade Program to include MacBooks, iPads, and other devices starting July 28 in the United States, according to a Bloomberg report. The new leasing options, offered in partnership with Klarna, are expected to be more affordable than current financing plans.

Customers will be able to upgrade their devices before the lease term ends or pay them off and own them. According to the Bloomberg report, the program will exclude the Apple Watch SE, entry-level iPad, iPhone 16, and MacBook Neo.

Apple plans to end all new enrollments in the current iPhone Upgrade Program and its standard financing options to make way for the new program, tentatively called the Apple Upgrade initiative. Business and educational purchases will also be excluded. Apple and Klarna have not responded to requests for comment.

Watch Apple to Launch Leasing Program to Spur Sales - Bloomberg

Apple is preparing to launch a new hardware leasing program with Klarna that could make it easier and cheaper to upgrade to the latest iPhone, iPad, Mac and Apple Watch. Bloomberg’s Mark Gurman explains why the initiative could reshape Apple’s upgrade cycle, lock customers into its ecosystem, and pave the way for more expensive devices like the foldable iPhone. He joins Ed Ludlow on “Bloomberg Tech.”

Bloomberg