Apple Upgrade Program Launches This Tuesday
▼ Summary
– Apple’s new “Apple Upgrade” leasing program launches in the U.S. on July 28, replacing new sign-ups for the current iPhone Upgrade Program.
– Apple is partnering with buy-now, pay-later company Klarna for the program.
– The program offers 24-month leases for iPhones and Apple Watches, and 36-month leases for iPads and Macs, with options to return, upgrade, or keep the device.
– Lower-priced devices like the Apple Watch SE, entry-level iPad, iPhone 16, and MacBook Neo are not eligible for the program.
– Unlike the current iPhone Upgrade Program, Apple Upgrade plans will not include bundled AppleCare+ coverage.
According to Bloomberg’s Mark Gurman, Apple is set to debut its new “Apple Upgrade” program in the United States this Tuesday, July 28. In his latest newsletter, Gurman clarified that Apple will cease accepting new enrollments in the existing iPhone Upgrade Program on the same day. However, current members of that program can remain enrolled “for the time being.”
The tech giant is collaborating with Klarna, a buy-now, pay-later service, to power this new initiative. Gurman explained that Apple Upgrade will allow customers to lease a wide range of devices, including most models of the iPhone, iPad, Mac, and Apple Watch. Lease terms will vary by product: iPhones and Apple Watches will carry a 24-month agreement, while iPads and Macs will require a 36-month commitment.
Participants will have several flexible options at the end of their term. They can choose to return the device, upgrade to a newer model, or pay a fee to retain ownership. Notably, some lower-cost devices such as the Apple Watch SE, the base-level iPad, the iPhone 16, and the MacBook Neo will not qualify for the program.
A key distinction from the previous iPhone Upgrade Program is that AppleCare+ coverage will not be bundled into the monthly payment under the new Apple Upgrade plan. Instead, the program is designed to offer lower monthly payments compared to standard financing options, suggesting a shift toward leasing rather than traditional ownership. Gurman indicated that Apple Upgrade will effectively replace the iPhone Upgrade Program for all new purchases moving forward, with a focus on affordability and flexibility.
(Source: MacRumors)
