Apple reportedly plans to launch Apple Upgrade on July 28 with Klarna, a Sweden-based payments company, letting customers lease iPhones, iPads, Macs, and Apple Watches over multiple years.

IPhone and Apple Watch leases would run up to 24 months, while Mac and iPad leases would run up to 36 months.

At the end, customers could keep, return, or upgrade their device. Some transactions could also carry extra fees.

The move would replace new sign-ups for Apple’s current iPhone Upgrade Program, which spreads the full cost of an iPhone and AppleCare+ with Theft and Loss over 24 months at 0% interest and lets customers upgrade after 12 payments.

That makes it a loan-based plan rather than a lease.

Apple already offers 0% Apple Card Monthly Installments in the US for Macs, iPads, and Apple Watches, typically over 12 months. That suggests a shift from card-based financing to a leasing-style program.

Klarna’s US products are marketed as buy now, pay later, or monthly financing rather than leases. Its pay-over-time plans can carry 0.00%-35.99% annual percentage rates, while some products can also charge late fees.

The launch would come as Goldman Sachs works to transition Apple Card to Chase and BNPL products face new rules on billing disputes, refunds, and disclosures.

🔗 Source: TechCrunch