Apple is about to change the way we access its devices. The Cupertino company is preparing the launch of Apple Upgrade, an ambitious rental programme that will work similarly to car leasing: instead of buying your iPhone, iPad, Mac or Apple Watch, you will lease them with a monthly fee. According to xataka.com, the service will be announced on 28 July, although the price of monthly fees has not yet been disclosed.

A return to an idea Apple already tested

This is not Apple's first foray into device rental. In September 2015, the company launched the iPhone Upgrade Program, which allowed users to pay a monthly fee (from 32 dollars) to have an iPhone renewable annually, with AppleCare+ included. Now, Apple Upgrade comes to revive that concept but on a larger scale: it will cover most iPhone, Mac, iPad and Apple Watch models.

The change is significant: Apple will stop accepting new registrations in the old iPhone Upgrade Program. The new service will be more restrictive in some respects, as it will exclude budget models such as the Apple Watch SE, entry-level iPad or iPhone 16, as well as corporate and educational purchases.

Klarna, the key financial partner

A crucial difference from the past is that Apple will not assume the financial risk of the programme. To do so, the company has partnered with Klarna, a Swedish payment platform specialising in financing. The news had an immediate impact on the stock market: Klarna shares revalued by 11%, while Apple shares barely moved. Neither company has made public statements about the agreement.

To access the service, users will need to pass a simplified credit check, similar to what a car lease requires but in a "light" version.

Where and how it will work

For now, Apple Upgrade will be available both in physical stores and online, initially in the United States. It is not yet clear whether it will arrive in Europe or Spain in a second phase.

• Devices covered: iPhone, iPad, Mac and Apple Watch (with exceptions for budget models)
• Access method: simplified credit check
• Difference from the old programme: no AppleCare+ included
• Expected announcement date: 28 July

What does this mean in practice?

This move reflects an uncomfortable reality: Apple devices are becoming increasingly expensive, and a monthly fee may seem more manageable than an initial outlay of 1,000 or 1,500 euros. However, renting has its downsides. In the long run, paying monthly instalments can cost more than buying the device outright, and you will never own the device.

On the other hand, for Apple there are clear advantages: it creates predictable recurring revenue and encourages constant device renewal, which benefits its ecosystem. The leasing model is a long-term bet, but it also represents a cultural shift: we are moving from owning technology to subscribing to it.

Will this model work in Spain when it arrives? That will depend on whether Spanish users prefer the flexibility of renting to the certainty of ownership.