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Sources indicate that the program will include the majority of iPhone, Mac, iPad, and Apple Watch models. The excluded items consist of the Apple Watch SE, standard iPad, iPhone 16, and MacBook Neo.
The program will have Swedish fintech firm Klarna as its financial partner. Apple Upgrade will be organized as a subscription, enabling users to pay off their device ahead of time, retain it once the rental period concludes, or upgrade to a newer model sooner. In certain instances, a supplementary charge will apply for these transactions. The device may also be returned once the rental period concludes.
The rental duration for the iPhone and Apple Watch will be two years, whereas the rental duration for the Mac and iPad will be three years.
The program will first be accessible in at least the US and will be offered in physical stores as well as online. Users must complete a soft credit check in advance.
The new program, in contrast to the current iPhone Upgrade Program, excludes AppleCare. It will not provide plans for companies or educational institutions.
Apple intends to end the iPhone Upgrade Program along with its standard financing and installment options, advocating the Apple Upgrade as a more affordable alternative.
The company previously thought about introducing its own device subscription program but dropped the idea in 2024. Collaborating with Klarna will enable the company to initiate this program without taking on financial responsibility.
source: bloomberg.com
The program will have Swedish fintech firm Klarna as its financial partner. Apple Upgrade will be organized as a subscription, enabling users to pay off their device ahead of time, retain it once the rental period concludes, or upgrade to a newer model sooner. In certain instances, a supplementary charge will apply for these transactions. The device may also be returned once the rental period concludes.
The rental duration for the iPhone and Apple Watch will be two years, whereas the rental duration for the Mac and iPad will be three years.
The program will first be accessible in at least the US and will be offered in physical stores as well as online. Users must complete a soft credit check in advance.
The new program, in contrast to the current iPhone Upgrade Program, excludes AppleCare. It will not provide plans for companies or educational institutions.
Apple intends to end the iPhone Upgrade Program along with its standard financing and installment options, advocating the Apple Upgrade as a more affordable alternative.
The company previously thought about introducing its own device subscription program but dropped the idea in 2024. Collaborating with Klarna will enable the company to initiate this program without taking on financial responsibility.
source: bloomberg.com
