--- title: Apple launches Klarna-backed lease-to-own program for... description: Apple is launching a lease-to-own program called Apple Upgrade on July 28, backed by Klarna. The program covers iPhones, iPads, Macs, and Apple Watches with... canonical: https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Apple launches Klarna-backed lease-to-own program for iPhones, Macs, and more on July 28 | daily.dev og:description: Apple is launching a lease-to-own program called Apple Upgrade on July 28, backed by Klarna. The program covers iPhones, iPads, Macs, and Apple Watches with... og:url: https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj og:image: https://api.daily.dev/og/posts/4HS2FcgGj.png og:image:alt: Apple launches Klarna-backed lease-to-own program for iPhones, Macs, and more on July 28 og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Apple launches Klarna-backed lease-to-own program for iPhones, Macs, and more on July 28 **[Collections](https://daily.dev/sources/collections)** · 2 min read · 2 upvotes · 0 comments ## Summary Apple is launching a lease-to-own program called Apple Upgrade on July 28, backed by Klarna. The program covers iPhones, iPads, Macs, and Apple Watches with lease terms up to 24 months for phones and watches, and up to 36 months for Macs and iPads. Customers can keep, return, or upgrade devices at lease end. The move comes as Apple raises hardware prices amid a global memory chip shortage driven by AI demand. Apple had previously attempted an in-house hardware subscription service but abandoned it in late 2024 due to software and regulatory hurdles. For Klarna, which recently went public, the partnership is a major distribution win — its stock jumped 11% on the announcement. ## Content Apple has launched a new device leasing program called Apple Upgrade, built in partnership with Swedish buy-now-pay-later company Klarna. The program went live on July 28 and replaces Apple's existing iPhone Upgrade Program and standard iPhone Payments financing. ## What the program covers U.S. customers can lease iPhones, Apple Watches, Macs, and iPads through monthly installments starting at $11.99/month. Lease terms run up to 24 months for iPhones and Apple Watches, and up to 36 months for Macs and iPads. At the end of the term, customers can keep the device, return it, or upgrade to a newer model. Early payoff is also an option. A few caveats: the program requires a soft credit check, doesn't include AppleCare, and excludes certain models — the iPhone 16, Apple Watch SE, and entry-level iPad among them. Business and education purchases aren't eligible either. Customers who pay with Apple Card earn 3% Daily Cash back, and trading in an existing device can reduce monthly payments. ## Why Apple is doing this now The timing isn't coincidental. Apple has raised hardware prices significantly in recent months, largely due to an industry-wide memory chip shortage driven by AI demand — what some in the industry have been calling "RAMageddon." Monthly payments are a way to soften the sticker shock on devices that now cost considerably more than they did a year ago. Apple had previously tried to build an in-house hardware subscription service but quietly abandoned that effort in late 2024 after running into software and regulatory problems. Partnering with Klarna was apparently the cleaner path. ## What it means for Klarna For Klarna, this is a significant distribution win. The company went public in 2025 but its stock had been sliding since the IPO. Shares jumped 11% on the news of the Apple partnership — which makes sense, given that being embedded in Apple's checkout flow puts Klarna in front of millions of customers who might never have sought it out otherwise. The program is currently U.S.-only, with no announced timeline for international expansion. ## Questions this post answers ### What is Apple's new Apple Upgrade leasing program and how does it work? Apple Upgrade is a device leasing program launched in partnership with Klarna, replacing the previous iPhone Upgrade Program and standard iPhone Payments financing. U.S. customers can lease iPhones, Apple Watches, Macs, and iPads for monthly payments starting at $11.99, with terms up to 24 months for iPhones and Watches, and up to 36 months for Macs and iPads. At the end of the term, customers can keep, return, or upgrade the device. _Track how financing shifts like this reshape hardware upgrade cycles with daily.dev._ ### Which Apple devices and models are excluded from the Apple Upgrade leasing program? The program excludes AppleCare coverage and certain models including the iPhone 16, Apple Watch SE, and the entry-level iPad. It also requires a soft credit check and is not available for business or education purchases. Customers paying with Apple Card earn 3% Daily Cash back, and trading in a device can lower monthly payments. The program is currently limited to the U.S. with no announced international timeline. _Developers building retail or fintech integrations can follow rollout details like these on daily.dev._ ### Why did Apple raise hardware prices and launch a leasing option instead of an in-house subscription? Apple raised hardware prices due to an industry-wide memory chip shortage driven by AI demand, sometimes called 'RAMageddon,' and introduced monthly leasing through Klarna to soften the resulting sticker shock. Apple had previously attempted to build its own in-house hardware subscription service but abandoned the effort in late 2024 after hitting software and regulatory obstacles. _Anyone tracking how AI-driven component shortages ripple into consumer pricing can follow this on daily.dev._ --- Tags: [#apple](https://daily.dev/tags/apple), [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Apple launches Klarna-backed lease-to-own program for iPhones, Macs, and more on July 28","url":"https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj"},"datePublished":"2026-07-21T18:22:07.611Z","dateModified":"2026-09-13T19:17:10.018Z","description":"Apple is launching a lease-to-own program called Apple Upgrade on July 28, backed by Klarna. The program covers iPhones, iPads, Macs, and Apple Watches with...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/e4fe8bebd5f796dd6baaf550578953f6?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/e4fe8bebd5f796dd6baaf550578953f6?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"Collections","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"Collections","logo":"https://media.daily.dev/image/upload/s--fk_6ycEi--/f_auto,q_auto/v1780996001/logos/collections?_a=BAMAMiWQ0","url":"https://daily.dev/sources/collections"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":2},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"apple,fintech","timeRequired":"PT2M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"Collections","item":"https://daily.dev/sources/collections"},{"@type":"ListItem","position":3,"name":"Apple launches Klarna-backed lease-to-own program for iPhones, Macs, and more on July 28"}]} {"@context":"https://schema.org","@type":"FAQPage","@id":"https://daily.dev/posts/apple-launches-klarna-backed-lease-to-own-program-for-iphones-macs-and-more-on-july-28-4hs2fcggj#faq","mainEntity":[{"@type":"Question","name":"What is Apple's new Apple Upgrade leasing program and how does it work?","acceptedAnswer":{"@type":"Answer","text":"Apple Upgrade is a device leasing program launched in partnership with Klarna, replacing the previous iPhone Upgrade Program and standard iPhone Payments financing. U.S. customers can lease iPhones, Apple Watches, Macs, and iPads for monthly payments starting at $11.99, with terms up to 24 months for iPhones and Watches, and up to 36 months for Macs and iPads. At the end of the term, customers can keep, return, or upgrade the device. Track how financing shifts like this reshape hardware upgrade cycles with daily.dev."}},{"@type":"Question","name":"Which Apple devices and models are excluded from the Apple Upgrade leasing program?","acceptedAnswer":{"@type":"Answer","text":"The program excludes AppleCare coverage and certain models including the iPhone 16, Apple Watch SE, and the entry-level iPad. It also requires a soft credit check and is not available for business or education purchases. Customers paying with Apple Card earn 3% Daily Cash back, and trading in a device can lower monthly payments. The program is currently limited to the U.S. with no announced international timeline. Developers building retail or fintech integrations can follow rollout details like these on daily.dev."}},{"@type":"Question","name":"Why did Apple raise hardware prices and launch a leasing option instead of an in-house subscription?","acceptedAnswer":{"@type":"Answer","text":"Apple raised hardware prices due to an industry-wide memory chip shortage driven by AI demand, sometimes called 'RAMageddon,' and introduced monthly leasing through Klarna to soften the resulting sticker shock. Apple had previously attempted to build its own in-house hardware subscription service but abandoned the effort in late 2024 after hitting software and regulatory obstacles. Anyone tracking how AI-driven component shortages ripple into consumer pricing can follow this on daily.dev."}}]} ```