Apple to End Current iPhone Upgrade Program Ahead of New Leasing Service
Apple plans to stop new enrollments in its existing iPhone Upgrade Program and standard financing as it prepares to launch a new "Apple Upgrade" leasing option with Klarna on July 28.
Apple is set to discontinue new sign-ups for its iPhone Upgrade Program and its standard financing plan, according to a report citing Bloomberg analyst Mark Gurman. The move will precede the rollout of a new leasing service called "Apple Upgrade," scheduled to launch on July 28 in partnership with Klarna. The existing iPhone Upgrade Program, which offers 0% APR financing through Citizens One and includes AppleCare coverage, allows customers to upgrade after 12 months of monthly payments. Apple also offers a separate "Apple iPhone Payments" option that provides 24-month financing without an upgrade feature. The new Apple Upgrade lease will not include AppleCare, and details on how current program participants will be affected have not been disclosed.