Apple Discontinues iPhone Upgrade Program in Favor of New Leasing Option
On July 28, Apple announced the discontinuation of its iPhone Upgrade Program (IUP), which had been available since 2015. The company is replacing it with a new leasing program called Apple Upgrade that covers multiple products including iPhones, iPads, Macs, and Apple Watches. Current IUP users will have several options when their upgrade window arrives: they can lease through the new Apple Upgrade plan, finance via Apple Card Monthly Installments, purchase outright, or use carrier financing. Unlike the previous installment loan model backed by Citizens One, the new program is a lease with Klarna owning the device during its term. The IUP previously included built-in AppleCare coverage in monthly payments; under the new system, this will be an add-on option.
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