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. Meanwhile, Bloomberg reported this spring that Apple is expected to unveil its long-rumored foldable iPhone in September.