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Revolutionizing Ownership: Apple’s Lease-to-Own Upgrade Program for iPhones, Macs, and iPads

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Tim Cook confirms price hikes are coming for iPhones, iPads, and Macs

Apple Launching New “Apple Upgrade” Program Amid Component and RAM Shortages

In response to component and RAM shortages driving prices higher, Apple is set to introduce an innovative “Apple Upgrade” program. According to a report by Bloomberg‘s Mark Gurman, this program will function similarly to a car lease, offering users the flexibility to upgrade to a new device early, retain, or return the device at the end of the lease period. Klarna is reported to be Apple’s financial partner for this new initiative, requiring a soft credit check for enrollment.

Key Details of Apple Upgrade Program

The Apple Upgrade program is scheduled to launch on July 28th, replacing the existing iPhone Upgrade Program and standard financing options for new Apple devices. The program will be available for most new iPhone, Mac, iPad, and Apple Watch purchases. It will offer 24-month leases for iPhones and Apple Watches, and 36-month leases for iPads and Macs.

Eligibility and Exclusions

Certain budget devices such as the base iPad, iPhone 16, Apple Watch SE, and the popular MacBook Neo are expected to be ineligible for the Apple Upgrade program. Unlike the current iPhone Upgrade Program, Apple Upgrade will not include an AppleCare subscription, as AppleCare prices are also on the rise.

Impact on Pricing and Future Product Launches

The introduction of the new upgrade program comes shortly after Apple implemented price increases across most of its product range. While the iPhone was not affected in the recent price adjustments, the upcoming iPhone 18 Pro series is anticipated to set new pricing standards upon its launch later this year.

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