Should you still buy your next smartphone — or subscribe to it instead?

Smartphone makers like Apple and Samsung are shifting toward leasing, subscription, and buyback programs as consumers keep devices longer — the average U.S. premium phone ownership now lasts 42 months. Apple’s new Upgrade program, offered with Klarna, lets users lease iPhones and other devices monthly with upgrade or purchase options. The trend is driven by rising prices and incremental hardware improvements, with analysts predicting the global replacement cycle will hit four years by 2026.