If you crave the latest smartphone but can’t afford the steep upfront cost of getting a 12-month contract and fear slipping behind the times by going for a 24-month deal, you may be cheered by O2’s news.
O2 has launched O2 Lease, a scheme that lets existing and new network customers rent a new device for one year without any upfront fees.
It costs £55 per month and comes with 750 minutes, unlimited texts and 500MB of data, and includes insurance.
The network explains the programme’s designed to appeal to those who want the latest smartphone “with minimal barriers, little long-term commitment, no upfront cost, no two-year contracts and crucially, at £55 with insurance, minutes, text and data an affordable price point.”
The way the service works is O2 gives you a brand new phone on a year-long contract for £55 per month, and at the end of the year you hand back the phone – and presumably snap-up the newest high-end handset.
Sally Cowdry, marketing and consumer director for O2 UK, said: “This is the first time a UK mobile operator has adopted a leasing model. We know that customers and small businesses are used to leasing everyday items from cars and washing machines to photocopiers and office space. They understand how it works and what the advantages of a leasing are. We have simply taken this idea and applied it to the smartphone market.”
There are no details regarding the smartphones on offer in O2 Lease, but the network mentions that you can get a 16GB phone for 12 months for £55 each month, or a 32GB model for £65 per month. Naturally, the latest high-end phones like the iPhone 4S and Galaxy Nexus are sure to be included.
O2 says the new service has been introduced to provide “new ways for people to buy”. What do you think of the new leasing programme? We’d love to hear your views on whether you think this is a great option for sorting a 12-month contract on a new smartphone without the upfront costs or if you see it as too expensive to pay £55 each month to rent a handset.
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