Apple is set to launch its new device leasing program, "Apple Upgrade," on July 28. This program, developed in partnership with Klarna, will require a soft credit check and function similarly to a subscription service. Leases for iPhones and Apple Watches will be for 24 months, while iPads and Macs will have 36-month plans. Excluded devices include the Apple Watch SE, base iPad, iPhone 16, and MacBook Neo. Users will have the flexibility to pay off their devices early, upgrade to new models, and choose to return or keep their device at the lease's end.

Unlike the current iPhone Upgrade Program, Apple Upgrade will not include AppleCare. Reports suggest Apple plans to discontinue the existing iPhone Upgrade Program upon the launch of the new service. This move follows a recent price increase on most Apple devices, excluding iPhones, and is likely intended to facilitate continued consumer purchases amidst higher costs.