In today’s newsletter, Bloomberg‘Mark Gurman has reiterated that a new “Apple Upgrade” program is expected to launch in the United States on Tuesday, July 28. Apple will stop accepting registrations for the iPhone Upgrade Program the same day, but it said customers already enrolled will be able to remain in the program “for the time being.”
Apple is partnering with buy now, pay later company Klarna on the program, he said.
The program will allow you to rent most models of iPhone, iPad, Mac and Apple Watch, with a duration of 24 months for iPhones and Apple Watches and 36 months for iPads and Macs. Customers will have various options including returning their device after the expiration date, upgrading to a newer device, paying a fee to keep the device, and more.
Some cheaper devices, including the Apple Watch SE, entry-level iPad, iPhone 16 and MacBook Neo, will not qualify, he said.
Unlike the iPhone Upgrade Program, Apple Upgrade plans will apparently not include AppleCare+ coverage built into the monthly price.
Apple plans to promote the program as a way to have lower monthly payments compared to current financing programs, according to the report. So it looks like Apple Upgrade will focus on leasing rather than traditional financing, and will effectively replace the iPhone Upgrade Program for new purchases going forward.
