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O2 Launches New Smartphone Leasing Service – Rent Yourself an iPhone 4S

UK network O2 has just launched ‘O2 Lease’, a revolutionary new service which lets customers rent a new smartphone from the company to use with their existing SIM card.

By launching the new service, O2 has become the first UK network to offer a service of this type.

O2 Lease will work like a short contract, running for just 12 months, except there are no ties at the end of the year. You’ll even be able to rent the new iPhone 4S from O2, with no upfront cost for the phone.

For £55 per month you’ll get yourself Apple’s latest gadget for precisely one year, plus insurance, 750 minutes talktime, unlimited texts and 500MB of data. The only downside is having to give the phone back at the end of the year, as we’d imagine you’d be quite attached to it by that point.

For £55 per month you’ll get a 16GB iPhone 4S, or if you need more space for your tunes, apps and videos you can pay £65 each month for a 32GB model. Along with a generous allocation of texts, minutes and internet access, you’ll also get free access to BT’s Openzone WiFi networks across the UK.

At the end of the lease you simply send the phone back to O2 and choose to either end the lease or start a new one with a different smartphone, though O2 hasn’t yet confirmed which other smartphones will be made available. Users are urged to take good care of their leased iPhones, with O2 clearly stating there will be additional charges for damaged phones:

“Customers will need to take good care of the device to avoid unnecessary charges at the end of the lease, so O2 recommends customers protect the device with a carry case.”

However, the network recognises that accidents happen and that the iPhone 4S is particularly prone to a smashed screen or back panel if dropped, thanks to its glass build. For that reason you’ll get insurance included as a part of your monthly payment, so you can claim on accidental damage or loss and get a replacement.

You’ll be able to walk into an O2 shop and take out an iPhone 4S on lease, or give O2 a call now to get your name down.

Is O2 Lease the answer to your iPhone wants and needs?

Let us know your thoughts on our comments below or via our @Gadget_Helpline Twitter page or Official Facebook group.