Apple's New Software Could Lock Unpaid iPhones to Basic Functions

Code in Apple's upcoming iOS 27 software reveals a "Restricted Mode" that limits leased iPhones to Phone, Settings, and the App Store if payments are missed. A lock built into Apple's Find My app prevents the phone from being erased, resold, or broken for parts, without sharing the owner's location. Bloomberg reported Apple's Klarna-backed leasing program starts July 28, 2026. Apple hasn't commented, and beta code may change.