Daijiworld Media Network – Cupertino

Cupertino, Jul 22: Apple is reportedly preparing to introduce a new 'Apple Upgrade' programme in partnership with Klarna, allowing customers to finance iPhones, iPads, Macs and Apple Watches through affordable monthly payments while making it easier to upgrade to newer models.

According to a Bloomberg report, the programme is expected to offer greater flexibility than Apple's existing financing options by enabling customers to switch to the latest devices before completing the full payment term.

Under the proposed scheme, customers will be able to finance iPhones and Apple Watches over 24 months, while iPads and Macs can be paid for over 36 months through monthly instalments.

Users will also have the option to clear the remaining balance early if they wish to own the device outright before the financing period ends. Alternatively, they can trade in their existing financed device for a newer model and begin a fresh financing plan without waiting for the original term to expire.

At the end of the financing period, customers can either retain the device after completing all payments or return it to Apple.

The programme is expected to be managed by Klarna, the buy now, pay later (BNPL) provider. Customers enrolling in the scheme will reportedly undergo a soft credit check, while additional fees may apply depending on payment delays or specific financing conditions.

The report also suggests that Apple could discontinue new enrolments for its current iPhone Upgrade Program once the new scheme is introduced, replacing it with a single financing programme covering multiple Apple products.

Apple is expected to position the initiative as a way to lower monthly ownership costs and simplify device upgrades, similar to Samsung's Galaxy Forever programme.

According to reports, the Apple Upgrade programme could be launched in the United States as early as next week, although the company has not officially announced the initiative.