Apple Launches Klarna-backed Apple Upgrade Leasing, Phasing Out the iPhone Upgrade Program

Apple has introduced Apple Upgrade, a Klarna-backed leasing program for iPhone, iPad, Mac, and Apple Watch that replaces the iPhone Upgrade Program and iPhone Payments. Leases run 12–24 months for iPhone/Watch and 24–36 months for Mac/iPad, with starter monthly prices from $17.99 (iPhone) and $11.99 (Watch). End-of-lease options include returning, paying off, or upgrading; trade-ins/credits affect monthly costs, and Klarna handles the financing. Apple Card users can opt for Apple Card Monthly Installments or Apple Upgrade with 3% Daily Cash on lease payments. Current iPhone Upgrade Program sign-ups end, but existing participants may continue payments until paid off. Availability starts today in-store and online, with model and eligibility restrictions.