Overview
- Apple will launch Apple Upgrade in the U.S. on Tuesday, July 28, and will stop new enrollments in the iPhone Upgrade Program while allowing current members to remain on their existing plans.
- Klarna will finance Apple Upgrade, moving lending and credit risk away from Apple and its previous partner Citizens Bank to a buy‑now, pay‑later provider.
- Most iPhones and Apple Watches will be offered on 24‑month leases and Macs and iPads on 36‑month leases, with lower‑priced models such as the Apple Watch SE, entry iPad, iPhone 16 and MacBook Neo reportedly excluded.
- AppleCare+ will not be bundled into Apple Upgrade monthly payments, so customers must purchase device protection separately and may face different repair and coverage terms than under the old program.
- Apple plans to position the program around lower monthly payments, but reports say customers should watch for soft credit checks, possible extra fees and BNPL‑related consumer‑protection issues that Klarna will handle and Apple has not yet fully detailed.