Following a notable price hike and ahead of the rumored debut of Apple’s new foldable iPhone, which is believed to cost around $2,000, the company has launched a new leasing program for many of its high-end devices.

Shoppers in the US can now lease eligible devices through a partnership with Klarna in Apple retail stores, online, and in the Apple Store app, as CNN reports. The new program covers much of Apple's latest high-end lineup, including the iPhone 17, Apple Watch Series 11 and Ultra 3, MacBook Air and Pro, iMac, Mac Studio, and several iPad models.

Customers can lease iPhones and Apple Watches for either 12 or 24 months, while Macs and iPads are available on 24- or 36-month terms. Apple's lower-priced devices, including the iPhone 16, base iPad, Apple Watch SE, and MacBook Neo, are not included.

The leasing program replaces Apple's previous iPhone Upgrade Program and expands it beyond smartphones while lowering the monthly cost. Apple's website lists lease payments starting at $17.99 per month for an iPhone, compared with roughly $42 per month under the previous upgrade program.

At the end of the lease term, customers have the option to upgrade their devices, purchase them with a one-time payment, or return them and exit the program.

The launch comes weeks after Apple raised prices on several Mac and iPad models, citing an ongoing memory shortage driven by growing demand from data centers, as Reuters reported in June. According to CNN, some analysts believe future iPhones could climb well beyond current prices.

"We should start thinking about a $1,500 iPhone instead of a $1,000 (or) $1,200 iPhone," said Mike Howard, of research firm TechInsights, speaking to CNN earlier this month.

The move also follows a broader shift in consumer behavior. A 2024 report from Consumer Intelligence Research Partners found that Apple users are keeping their iPhones and Macs for longer, with most customers now holding onto their devices for two years or more before upgrading.

Meanwhile, Bloomberg reported this spring that Apple is expected to unveil its long-rumored foldable iPhone in September. Macworld says the foldable device — rumored to carry the "iPhone Ultra" name — could start at $1,999, making it Apple's most expensive iPhone to date. Macworld also notes the book-style phone could also potentially require two or more batteries.

Apple will also reportedly be releasing its iPhone 18 Pro and Max models in September, but the regular iPhone 18 is delayed until 2027.

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