Apple is reportedly preparing to launch a new device subscription service, potentially as early as July 28. Dubbed the "Apple Upgrade" program, it aims to offer iPhones, Macs, iPads, and Apple Watches on a subscription basis.

This initiative, previously considered and shelved in 2024 due to financial oversight concerns, is now reportedly moving forward with a partnership with Klarna. This collaboration is expected to allow Apple to offer hardware subscriptions without assuming the full financial responsibility. The program will reportedly offer flexibility, including options to upgrade, keep, or return devices after the lease period, which is expected to be 24 months for iPhones/Apple Watches and 36 months for iPads/Macs.

A soft credit check will be required. The service may replace existing upgrade and financing options and will reportedly not support AppleCare, with certain models excluded. Initially expected in the US, the program could help mitigate recent device price increases by offering a lower upfront cost for consumers.