ZTE joins growing list of phone makers with lease program

One of the more popular trends to emerge in the US smartphone market lately has concerned how we pay for our phones. As carriers drop long-term contracts and subsidized pricing, it sure looked like customers might be in for a bit of sticker shock, forking out full price for their new hardware. But as it happened, both carriers and manufacturers were quick to step up with alternatives, namely in the form of device financing and leasing plans. Now yet another manufacturer is ready to introduce its own leasing arrangement, as ZTE announces its lease-to-own program.

Here’s how it works: when you buy a new, unlocked ZTE device, the company will offer (through its partner SmartPay) approved shoppers the opportunity to lease the hardware – on a term of six to twenty-four months, depending on just what device we’re talking about (presumably, more affordable models will pair with those shorter lease terms). If at any point you decide you want to upgrade to some newer hardware, or just go with a different handset, you can hand in your existing model and start a new lease on another – or go with a different company’s phone entirely, if that’s where your desires lie.

Once paid off, the hardware is yours to keep, and you’re free to buy out of the least at any point you’d like, paying off the balance ahead of schedule.

Compared to the rest of the playing field, ZTE already has some relatively affordable phones – like the new Axon Pro, priced at just $450 – but if this new effort makes it even easier for ZTE to pick up some more on-the-fence customers, more power to it.

Source: ZTE

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About The Author
Stephen Schenck
Stephen has been writing about electronics since 2008, which only serves to frustrate him that he waited so long to combine his love of gadgets and his degree in writing. In his spare time, he collects console and arcade game hardware, is a motorcycle enthusiast, and enjoys trapping blue crabs. Stephen's first mobile device was a 624 MHz Dell Axim X30, which he's convinced is still a viable platform. Stephen longs for a market where phones are sold independently of service, and bandwidth is cheap and plentiful; he's not holding his breath. In the meantime, he devours smartphone news and tries to sort out the juicy bits Read more about Stephen Schenck!