More details emerge on Apple's upcoming device subscription program

More details have emerged about Apple's upcoming hardware subscription service, according to 9to5Mac.

Earlier, Bloomberg's Mark Gurman reported that Apple is preparing to launch Apple Upgrade, a new program that will let customers subscribe to iPhones, Macs, iPads, and Apple Watches for a monthly fee. The service is expected to launch on July 28 in partnership with Swedish fintech company Klarna.

According to 9to5Mac, the program is expected to work much like a car lease. Instead of splitting the full price into 24 interest-free monthly payments, subscribers would pay only for the device's depreciation over time, along with any applicable financing costs.

At the end of the agreement, customers would not automatically own the device. Keeping it would require paying a substantial final amount — something many users may be unwilling or unable to do. Instead, they would likely return the device and start a new subscription, effectively staying in a continuous upgrade cycle while paying significantly more over time.

The report also suggests that AppleCare+ may no longer be included by default. If that's the case, customers whose leased devices are lost or damaged could face substantial additional costs.