Apple is reportedly planning to discontinue the "iPhone Upgrade Program," ceasing new sign-ups shortly after launching a new "Apple Upgrade" program next week. The details regarding the fate of existing members are still unclear; they may be allowed to continue their current terms or be transitioned to the new program.

A key distinction of the "Apple Upgrade" program is the exclusion of AppleCare+ with Theft and Loss coverage, which is expected to lead to a reduced monthly cost. AppleCare+ will still be available for purchase separately, offering various payment options.

This move signals a shift in Apple's device financing and protection offerings, with the new program aiming to potentially spur sales through a different structure. Further information on migration and program specifics is anticipated.