Apple launches ‘Upgrade’ program to lease new devices

Core Impact Points

• The 'Upgrade' program replaces the existing iPhone Upgrade Program, offering a wider range of devices and more flexible leasing options.
• Leasing prices start as low as $17.99 per month for the iPhone 17e, $11.99 for Apple Watch series 11, $24.99 for the MacBook Air, and $11.99 for the iPad Air.
• At the end of the lease term, customers can upgrade their device to the latest generation, purchase it with a one-time payment, or return it and exit the program.
• The program is available both online and in physical retail stores, with Klarna serving as Apple's financial backer, and users will need to be approved for the program via a soft credit check.
• The new leasing service aims to provide an in-house alternative to the upgrade plans offered by many US carriers, and is a continuation of Apple's goals for the iPhone Upgrade Program.
• However, the program does not include AppleCare, the warranty extension plan, which was also recently impacted by price hikes.