Apple launched a hardware leasing program in the United States on Tuesday, July 28, 2026.
The initiative lets consumers rent premium iPhones, Macs, iPads, and Apple Watches through retail stores, online, and the Apple Store app.
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The tech giant partnered with payment platform Klarna to lower upfront costs as electronics prices rise and consumers delay upgrades.
Lease terms range from 12 to 24 months for iPhones and Apple Watches, while Mac and iPad leases span 24 to 36 months.
Eligible Devices and Pricing
Eligible devices include the iPhone 17 lineup, iPhone Air, Apple Watch Series 11, Apple Watch Ultra 3, MacBook Air, MacBook Pro, iMac, Mac Studio, iPad Air, iPad Pro, and iPad Mini.
Cheaper options like the iPhone 16, MacBook Neo, base iPad, and Apple Watch SE are excluded.
The new plan replaces the former iPhone Upgrade Program. Monthly rates start at $17.99 for iPhones, compared to the previous program's $42 starting price.
According to market research firm International Data Corporation (IDC), the initiative shifts hardware purchases toward a subscription model.
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Reviews. org data shows the average user currently holds a smartphone for 22 months.
Analysts expect upcoming hardware to incur higher retail costs due to global memory shortages and data center demand.
TechInsights vice president Mike Howard noted, "We should start thinking about a $1,500 iPhone instead of a $1,000 (or) $1,200 iPhone."
The service launched ahead of Apple's anticipated September event.
Bloomberg reports the company may announce its first foldable smartphone, expected to be its most expensive device to date.
IDC analyst Francisco Jeronimo commented, "Apple's real risk is that rising prices even further can impact the upgrade cycle."
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He added, "Apple Upgrade lands at precisely the moment Apple needs it."
