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Event File FINTECH

Apple Launches Klarna-Backed Device Leasing Plan

1 reports · First detected 2026-07-30 · Last active 2026-07-30

Apple Upgrade is Apple’s U.S. device-leasing program, financed through Sweden’s Klarna, and covers selected iPhone, iPad, Apple Watch and Mac models. Unlike a conventional installment purchase, Klarna retains ownership during the lease and the lower monthly bill reflects only part of the device’s retail value. Customers can return the hardware, start a new lease for an upgrade, or make a final payment to keep it. The structure chiefly benefits frequent upgraders; long-term users must weigh the buyout, separate AppleCare+ coverage and possible damage charges.

Apple launched the service in the United States on July 28, 2026. Terms run 12 or 24 months for iPhone and Apple Watch, and 24 or 36 months for iPad and Mac, with advertised monthly prices starting at $17.99 for iPhone, $11.99 for iPad and Apple Watch, and $24.99 for Mac. A 256GB iPhone 17 Pro priced at $1,099 costs $31.99 a month over 24 months, or $767.76 in lease payments; ownership requires a final payment for the balance, while taxes, AppleCare+ and damage fees are extra.

All Coverage

1 original reports
THEVERGE.COM 2026-07-30
What’s the catch with the Apple Upgrade program?

The Backstory

The history behind this event
Carrier Deals and Fraud Risks Drive Apple Upgrade Restrictions2026-08-04 · 1 reports · similarity 0.84

Apple launched Apple Upgrade in the US on July 28, 2026, replacing new enrollments in the iPhone Upgrade Program and iPhone Payments. Backed by Klarna, the service offers 24-month leases for iPhones and Apple Watches and 36-month terms for iPads and Macs. iPhone customers must select a postpaid account with AT&T, T-Mobile or Verizon, excluding prepaid carriers. The requirement limits access for users of lower-cost operators, even though leased iPhones remain unlocked and can later be moved.

A report published Aug. 3 cited a former member of Apple’s carrier team as saying the company negotiates agreements worth hundreds of millions of dollars with each of the three operators and makes concessions in return. The enrollment rule appears to be one such concession. A former Apple Store employee separately said fraudulent purchases surged after carrier financing entered Apple stores. Requiring an established postpaid account adds an identity and payment-history check, helping Apple and Klarna limit fraud, defaults and losses.

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