Apple is preparing for a more expensive iPhone launch this fall, featuring the iPhone 18 Pro and the first foldable iPhone Ultra. The cheaper base iPhone 18 is slated for a spring release. To mitigate higher expected prices, Apple has introduced the Klarna-backed Apple Upgrade program, allowing customers to lease iPhones for 12 or 24 months with lower monthly payments that cover only a portion of the full price. At the lease's end, users can upgrade, return, or pay the remaining balance.

Additionally, Apple has increased trade-in values for existing iPhones; an iPhone 16 Pro Max now fetches up to $720. These higher trade-in values can further reduce monthly lease payments. Apple is also expanding trade-in eligibility to more Android models, including the Pixel 9 lineup and Galaxy S21 Ultra, aiming to attract new users to its ecosystem as its latest devices move further upmarket. These strategies focus on lowering the visible monthly payment and increasing the perceived value of existing devices, rather than making the new iPhones themselves cheaper.