Apple Introduces New Way To Make iPhone Purchases More Affordable

Apple is preparing to introduce a new leasing programme called “Apple Upgrade” that will allow customers to access iPhones, Apple Watches, Macs and iPads through monthly payments instead of paying the full price upfront. The initiative is aimed at making Apple’s premium devices more affordable by spreading costs over extended periods.

Under the planned programme, customers would be able to lease iPhones and Apple Watches for 24 months, while Macs and iPads would be available on 36-month lease terms. At the end of the period, users could return the devices, purchase them outright or upgrade to newer models, potentially with additional charges depending on the option selected.

According to reports, Apple has partnered with financial technology company Klarna to support the programme. The company is positioning Apple Upgrade as an alternative to traditional device financing, allowing customers to manage payments through a subscription-style model rather than making a large initial purchase.

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The programme is expected to launch on July 28 through Apple’s retail stores and online platforms in the United States. Apple is also reportedly planning to phase out its existing iPhone Upgrade Programme and standard financing options as it shifts focus towards the new leasing model.

However, Apple Upgrade will come with certain limitations. The programme will not include AppleCare coverage, and some products, including the Apple Watch SE, entry-level iPad, iPhone 16 and MacBook Neo, will reportedly not be available through leasing. Business and education customers will also be excluded from the initiative. Apple has not yet announced monthly payment amounts, total lease costs or end-of-term purchase prices.

The move comes as Apple faces rising production costs due to shortages of memory and semiconductor components. Increasing demand for artificial intelligence infrastructure has intensified competition for key hardware components, contributing to higher prices across the consumer electronics industry.

Apple has recently increased prices on several premium products, with some high-end MacBook, desktop Mac and iPad configurations seeing significant price rises. The Apple Upgrade programme could help the company maintain customer demand while easing the impact of higher upfront costs.

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