Apple has launched "Apple Upgrade," a new U.S. leasing program for iPhone, iPad, Mac, and Apple Watch, in partnership with Klarna. This program replaces the previous iPhone Upgrade Program and iPhone Payments, offering lower monthly prices starting at $17.99 for iPhones and $11.99 for Apple Watches.

Leasing options include 12 or 24 months for iPhones and Apple Watches, and 24 or 36 months for Macs and iPads. Optional AppleCare+ is not included in lease prices. Sample pricing includes a 256GB iPhone 17 Pro for $31.99/month on a 24-month lease. iPhone leases require a plan from AT&T, Verizon, or T-Mobile, but devices remain unlocked.

At the lease end, customers can return the device, pay off the remaining balance to own it, or upgrade to a new device. Current iPhone Upgrade Program participants can continue their existing plans but must transition to Apple Upgrade or another option for future purchases. Apple Card users can still use monthly installments or opt for Apple Upgrade to receive 3% Daily Cash back.