Apple is giving consumers another way to get its latest devices. First reported by Bloomberg, Apple is set to launch its Apple Upgrade service later this month.
According to the report, the service, which will begin on July 28, will “support most iPhone, Mac, iPad, and Apple Watch models.”
Rent To Own Comes To Tech
In partnership with Klarna, Apple Upgrade will act as a subscription plan with different lease lengths depending on the product. Apple Watches and iPhone leases will last 24 months, while iPad and Mac leases run 36 months.
Those on the plans will also have the option to pay off their device early or even upgrade to a newer device before the term ends, keeping you in their leasing program without officially owning your device. That said, should you want to pay until the plan is over and nothing more, you can keep the device once the payments have completed.
This plan requires a soft credit check for interested parties.
The launch of Apple Upgrade will come a month after the company announced substantial price increases to a number of its products.
At the end of June, it was revealed that the price of MacBooks was increasing by as much as $300, Mac Studios by as much as $1,300, and iPads by as much as $150. It’s also expected that iPhone prices will increase when the new versions are released later this year.
Apple also isn’t the only company to go the “rent-to-own” route. Alongside its own announcement of yet another price increase for the Xbox Series X and S consoles, Microsoft introduced its own plans in partnership with Klarna.
Per Bloomberg, Apple will “advertise the program as a way to have lower payments versus current financing programs.” There will also be changes, such as the discontinuation of the iPhone Upgrade Program. That program included AppleCare, whereas Apple Upgrade will not.
What do you think of the Apple Upgrade lease program? Leave your thoughts in the comments below, or join the discussion in the official Insider Gaming Discord.
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Mike has been covering the gaming industry since 2012, and has reported on some of the largest events in the industry while also working as an investigative reporter. Outside of…
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