Apple could soon introduce a new way for customers to get their hands on its devices. According to a report by Bloomberg’s Mark Gurman, the company is preparing to launch a new Apple Upgrade programme on July 28. The service is said to let customers lease eligible Apple devices through monthly payments instead of purchasing them outright. However, Apple has not officially announced the programme, and all details remain based on reports.
What is the reported Apple Upgrade programme?
The Apple Upgrade programme is reportedly a leasing service that will cover more than just iPhones. According to the report, eligible products are expected to include iPhones, iPads, Macs and Apple Watches.
Instead of paying the full price of a device, customers would reportedly pay a monthly fee for a fixed period. At the end of the lease, they could have the option to upgrade to a newer model, purchase the device by paying the remaining amount, or return it.
The report also claims that iPhones and Apple Watches may be offered with a 24 month lease, while Macs and iPads could come with a 36 month term.
How it will work?
Bloomberg’s report suggests Apple has partnered with Klarna to power the financing service. Customers are reportedly expected to go through a soft credit check, which typically does not affect their credit score.
The report further states that Apple may stop accepting new customers for its existing iPhone Upgrade Program and standard iPhone financing option if the new programme is introduced.
What could it mean for customers?
If the reported programme launches, it could provide another way for customers to access Apple’s premium devices without paying the full amount upfront. Instead of purchasing a new device every few years, users may be able to switch to a newer model once their lease period ends, subject to the programme’s terms.
According to the report, the new programme may not include AppleCare+, unlike Apple’s current iPhone Upgrade Program. Customers may therefore need to purchase protection separately if they want accidental damage coverage.
Apple has not confirmed the Apple Upgrade programme or its reported July 28 launch date. Until the company makes an official announcement, all information about the service should be treated as a report rather than confirmed news.
