Apple is preparing to launch the Apple Upgrade program—a leasing service for most iPhone, Mac, iPad, and Apple Watch models—on July 28, 2026, Bloomberg reports, citing sources. The service will initially be available at least in the United States.

The Swedish company Klarna will be the program's financial partner. Klarna shares rose 11% following the news, but by the time of writing, their gains had slowed to less than 1%.

According to Bloomberg, Apple Upgrade will work on a subscription model. Users will be able to keep the device at the end of the lease period or exchange it for a newer model. The contract period for iPhone and Apple Watch will be 24 months, for Mac and iPad - 36 months.

The agency notes that the launch of the program occurs shortly after Apple increased prices for its products amid a shortage in the memory market. In addition, according to sources, the company may again increase prices for the iPhone at the presentation in September 2026.