Apple and Klarna are partnering on a new “Apple Upgrade” program set to launch in the U.S. on Tuesday, July 28, according to Bloomberg‘s Mark Gurman.
The program will allow you to finance most iPhone, iPad, Mac, and Apple Watch models, with a 24-month term for iPhones and Apple Watches and a 36-month term for iPads and Macs. Customers will be able to pay off the device early during the term, upgrade early to a newer device, or keep the existing device after it is fully paid off.
The report said some lower-priced devices, including the Apple Watch SE, the entry-level iPad, the iPhone 16, and the MacBook Neo, will not be eligible.
Apple plans to stop accepting new iPhone Upgrade Program sign-ups once the new Apple Upgrade program launches, the report added. Unlike the iPhone Upgrade Program, however, Apple Upgrade will apparently not include AppleCare+ coverage.
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