Apple launched Apple Upgrade in the United States to replace its long-standing iPhone Upgrade Program. This new hardware leasing service operates through a partnership with fintech firm Klarna. The program expands eligibility to include iPads, Macs, and Apple Watches alongside iPhones.
Customers can lease iPhones and Apple Watches for 12 or 24-month terms. Mac and iPad leases carry 24 or 36-month terms. Klarna retains ownership of all devices during the lease period.
Users may upgrade to a new device, purchase the current unit, or return it at the term's end. This program excludes AppleCare by default, a change from the previous financing model.