Apple ($AAPL) is preparing to launch Apple Upgrade, a new device leasing program backed by Klarna ($KLAR), on July 28. The program will initially be available in the U.S. for eligible iPhone, Mac, iPad and Apple Watch models, allowing customers to upgrade, purchase, or return devices at the end of their lease term. Apple plans to phase out new enrollments in its current iPhone Upgrade Program and standard financing in favor of the new offering.
- Apple Upgrade will offer 24-month leases for iPhones and Apple Watches, and 36-month leases for Macs and iPads, subject to a soft credit check.
- Customers can pay off devices early, upgrade before their lease ends, or return eligible hardware, with some options carrying additional fees.
- The program follows recent price increases across several Apple product lines and comes ahead of an expected iPhone price increase this fall.
- Apple's federal lobbying disclosures include work on digital markets, fintech, privacy, AI, tariffs and App Store legislation, while Klarna's lobbying filings focus on Buy Now, Pay Later regulation, payments policy and open banking.
Relevant Companies
- Apple ($AAPL) – The new leasing program represents a major overhaul of Apple's consumer hardware financing strategy.
- Klarna ($KLAR) – Klarna will provide the financing behind Apple Upgrade, expanding its role in consumer device financing.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
