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Raylo: subscription start-up to sell latest iPhone at competitive prices

News
July 22, 2019

So far 5,700 people have signed-up to waiting list according to Raylo

A start-up device subscription company called Raylo is hoping to provide Apple’s next iPhone via a subscription model cheaper than that of operators. It expects to unveil the model in September.

Raylo is tentatively
pricing the latest iPhone SIM-free and fully insured at £43.99 per
month for 24 months, which it may adjust depending on the price of
the device.

Consumers return the
device at the end of the contract to Raylo, which will sell the phone
to an overseas consumer market. The company claims that its price
coupled with a SIM-only deal is cheaper than the phone will be on a
contract with insurance from one of the ‘big four’ networks.

Raylo has not yet disclosed its distribution or recycling partners, but has been running a beta service since May with the iPhone XS and XS Max models.

A statement from the company read: “Apple has yet to officially announce the new iPhone. However, Raylo has the relationships in place to procure the new iPhone at launch, which we expect to be in September 2019.”

Co-founder and CEO Karl Gilbert said: “According to Carphone Warehouse, SIM-only contracts have grown to 35 per cent of the contract market and are estimated to be growing at 100,000 people per week, so we think we’re in the right space to offer a SIM-free phone with a simple online sign-up.”

He added that Ofcom’s
promotion of text-to-switch and the introduction of end- of-contract
notifications from February next year will also help draw in
customers.

More than 5,700 people have signed up to the waiting list at the time of writing.

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