Apple Inc. launched the Apple Upgrade program in the U.S. to let customers lease iPhones and other devices through monthly payments [1, 2].
This shift toward a lease-to-own model addresses the challenge of rising device prices, making high-end hardware more accessible to a broader consumer base [1, 3].
The program is available through the Apple Store app, the company's online store, and physical Apple Store locations across the U.S. [2, 4]. By transitioning from a traditional purchase model to a leasing arrangement, the company provides a flexible alternative for users who prefer manageable monthly costs over a large upfront investment [3, 5].
While the program focuses heavily on the iPhone, it extends to other Apple devices as well [2, 4]. The initiative was announced and made live in September 2023 [1, 2].
Customers can use the service to acquire the latest hardware without the immediate financial burden of full ownership. This strategy allows Apple to maintain a consistent relationship with its users, encouraging more frequent hardware rotations as new models enter the market [1, 3].
“Apple launched the Apple Upgrade program, a lease-to-own service for iPhones.”
The introduction of a formal leasing program signals a broader industry trend toward 'hardware-as-a-service.' By lowering the barrier to entry for expensive flagship devices, Apple can increase its active user base and create a predictable, recurring revenue stream while ensuring a steady flow of used devices back into its ecosystem for refurbishment or recycling.
