Today, ZTE announced a new lease-to-own program that makes it every easier to get one of its products into your hands.
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To start, ZTE’s flagship phone, the Axon Pro, and its projector hotspot, the S Pro 2 Smart Projector, are available unlocked on the Lease-to-Own program. After you select your device, you can get immediate approval and then make your first payment (anywhere between $0 and 25 percent of your lease amount) at checkout.
ZTE plans to make most of its devices available on the program, but a few phones will still remain unavailable in the States, even though they launched in China more than six months ago. Leasing programs range from 6 to 24 months, with both early cancellation and early pay off both possible.
Customers can also cancel their lease at any time and upgrade their device if they’re up to date on their monthly payments by returning their current device to SmartPay. And if you decide that you no longer want the device that you’re paying for, you can turn it in and be done with it, so long as your up-to-date on your payments. The OEM also wants to let customers take leased devices to compatible carriers and claims it is not trying to encourage upgrades but instead bring flexibility and choice to the market.
“We are introducing leasing options because we believe advanced mobile technology should be available to everyone”, said ZTE USA CEO and chairman Lixin Cheng.
Leasing programs backed by smartphone makers have become more common as wireless operators move away from traditional two-year contracts and the device subsidies that come with those plans, and instead are requiring customers to pay full price for devices.
Besides offering greater convenience, the new payment plan could land new customers for ZTE.
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Apple introduced a way to pay for your iPhone monthly without having to use a carrier, and Chinese mobile giant ZTE plans to offer a similar service in the coming months. The precise pricing for Samsung’s leasing program could not be determined, the report added.
