O2 UK will lease you a smartphone for £55 per month, with minutes, texts, data, and insurance included
If you’re in the UK, you should know that O2 has just announced the first smartphone leasing programme for consumers. As the name implies, this effectively means that the operator will lease you “a new 16 GB smartphone” for 12 months. After that time elapses, you can choose to renew your lease, choose another smartphone to be leased, or simply move on to something else – a long-term contract perhaps.
The scheme requires you to pay £55 per month (or £65 per month for a 32 GB device) for those 12 months. For that amount of dough, alongside the smartphone, you’ll also get 750 minutes, unlimited texts, and 500 MB of data each month. The smartphone will also be insured, and that is included in the aforementioned cost. Needless to say, you won’t be paying anything upfront.
O2 Lease (which is the intuitive name the operator has chosen for this programme) will first be available in stores and via telesales. O2 Lease can be taken advantage of by new or existing O2 customers. Small businesses can also benefit from O2 Lease, on a range of business tariffs.
This is an interesting idea, although with smartphones usually being offered for free upfront with 18-month or 24-month contracts in the UK, basically the main appeal here is the lower length of the commitment, alongside the integrated insurance. If this becomes a success (even remotely), then expect all the other major UK operators to offer something similar very soon.