News in Short
- Apple Upgrade is a new device leasing program that will launch in the US on July 28.
- Customers can pay lower monthly fees, upgrade to a new device early or keep the device after the lease ends.
- The program covers most iPhones, iPads, Macs and Apple Watches.
- Apple is partnering with Klarna to finance the new subscription service.
Apple is launching a new subscription service called Apple Upgrade in the US on July 28. The program will allow customers to get an iPhone, iPad, Mac or Apple Watch by paying a monthly fee instead of paying the full price upfront.
According to a Bloomberg report, Apple hopes the new service will encourage more people to buy its devices, especially as prices of several products have increased.
What is Apple Upgrade?
Apple Upgrade is a leasing program that works like a subscription.
Instead of buying a device outright, customers can pay a fixed monthly amount. During the lease period, they will have three options:
- Upgrade to a newer Apple device before the lease ends.
- Continue paying until they own the device.
- Return the device after the lease period.
Apple says the new program will offer lower monthly payments than its existing financing options.
Which Apple devices are included?
The Apple Upgrade program will support most:
- iPhones
- iPads
- MacBooks
- Apple Watches
However, some devices will not be part of the program. These include the Apple Watch SE, entry-level iPad, iPhone 16 and MacBook Neo.
The service will also not be available for business or education purchases.
Apple partners with Klarna
Apple is working with Klarna, a global buy-now-pay-later company, to finance the new program.
Customers will be able to sign up through Apple’s official website or visit an Apple Store in the US.
Why is Apple launching this program?
Apple has increased the prices of several products, including iPads and MacBooks, due to rising memory and storage chip costs.
Although iPhone prices have remained unchanged, the company wants to make its devices more affordable through flexible monthly payments.
The new subscription model could also encourage users to upgrade their Apple devices more often.
Will it come to India?
For now, Apple has announced the program only for the United States.
The company has not shared any details about launching Apple Upgrade in India or other markets. However, if the service receives a positive response in the US, Apple could consider expanding it to more countries in the future.
