Apple has launched a new leasing program called “Apple Upgrade,” designed to facilitate access to the latest models of iPhones, Macs, iPads, and Apple Watches. The program, which is now available in the U.S., functions similarly to a car lease, enabling users to either keep their devices at the end of the lease, pay off the device early, or upgrade to a newer model. This introduction comes shortly after Apple raised prices on several of its devices due to ongoing storage and memory shortages, with warnings that future iPhone models may also see price increases. The Apple Upgrade program offers 24-month leases for iPhones and Apple Watches, and 36-month leases for Macs and iPads, starting at $17.99 per month for the iPhone 17e. Unlike the previous iPhone Upgrade Program, this new program does not include AppleCare.
Why It Matters
The launch of the Apple Upgrade program marks a strategic shift for Apple in response to rising device costs and consumer demand for more flexible purchasing options. Since its initial rollout, the original iPhone Upgrade Program was limited to iPhones; the new program expands coverage to several device categories while removing the warranty options that have recently become more expensive. This move reflects broader trends in consumer electronics, where leasing and subscription models are increasingly popular as alternatives to traditional purchasing methods. Additionally, the program comes at a time when Apple faces challenges in supply chain management and pricing pressures, which could impact consumer behavior and overall sales.
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