Multiple reports, citing Bloomberg, say Apple is preparing to launch a device leasing program called “Apple Upgrade” in the United States on July 28. The program is described as a way for customers to make monthly payments for Apple devices, with pricing intended to result in lower payments than existing financing options. Coverage also says the service is positioned to help spur sales as Apple’s hardware prices rise, including for products such as iPads and MacBooks, and as component and memory constraints affect device costs.
According to the reporting, “Apple Upgrade” would work in a lease-to-own style. Customers can lease eligible iPhones, Macs, and iPads, with options similar to a vehicle lease: they can upgrade to a newer device before the lease ends, or keep or return the device at the end of the lease term. One source also says the effort is backed by Klarna.
While the details are consistent across outlets, the reports frame the information as based on people familiar with the matter and prior descriptions from Bloomberg, not as an official Apple announcement yet.
