Apple's rumored leasing program could restrict apps, lock down iPhones if you miss payments

Apple is reportedly partnering with Klarna to launch a hardware leasing program called Apple Upgrade, with code found in iOS 27 beta revealing that missed payments could trigger "Restricted Mode," locking users out of most apps. Subscriptions to blocked apps would still be charged, and a "Partner Finance Lock" would prevent devices from being erased or resold. The program is expected to launch July 28, 2026.