Overview
- Reports say Apple will roll out Apple Upgrade in the U.S. on July 28, replacing new sign‑ups for the iPhone Upgrade Program and standard financing.
- Klarna will underwrite the leases and customers will face a soft credit check before approval, with Apple and Klarna not yet commenting publicly on details.
- Lease terms are reported as 24 months for iPhones and Apple Watches and 36 months for iPads and Macs, with options to pay off early, upgrade early, keep the device, or return it for possible fees.
- The program reportedly excludes some lower‑priced models and business or education buys, and unlike the old iPhone Upgrade Program it will not include AppleCare coverage by default.
- Analysts and markets see this as a business model shift that could make high‑end Apple hardware easier to afford up front while moving credit risk off Apple’s balance sheet and boosting Klarna’s consumer reach.