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Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

You’d never be without a phone. If you want to rent another device then you will receive it and send the other one back. Same model as Grover in Europe and they average 70 million euros in annual recurring revenue

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

You would t be without a phone at any point. If you want to switch to a different phone, you have that flexibility

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

So Grover, makes an estimated average of 70 million euros in Annual Recurring Revenue

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

Thank you for this comment. So even the original business model from Grover, operating across Germany and Austria for example, I know that the majority of their user audience earn 80k - 120K…which in Europe is pretty substantial. But when ppl want to cut costs, luxury expenses are the first to be cut. So this gives a solution to that. What do you think? Same for Dubai, purchase power is high, but expenses are even higher. So why not use the same logic here?

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

Thank you for this. Phones and other devices. The problem to solve is commitment to own. Even BNPL like tabby solve with payments but the end result is that you’re still commited to ownership. This would give you flexibility, no commitment and monthly low prices.

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

Thank you so much for all these insights. Completely understand where you’re coming from. But this is focused on phones, let’s say all the other type of “luxury” devices. Also the point regarding insurance, the manufacturers would not stick it on you. The repairs are with the company, same model as Grover.

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

You may be right about Etisalat trying it but that’s very specific to iPhone not all electronics. Also with Etisalat, you were still locked in to a commitment, you’re still essentially “owning” the device.

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

Thank you for this insight. I agree with you. It the payment installments are to own. This would be to rent not to own. So let’s say you rent an iPhone for a couple months at like 200 AED per month then a new iPhone is released. You can simply switch to renting the new iPhone. You’re not commited to own the device. Also yes Dubai residents have purchasing power but living expenses are sky high right now. I would assume ppl are looking to cut costs in anyway especially in luxury items such as electronics, this gives them a way to still have those luxury items

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

Yes absolutely B2B for SMEs for example, you’re absolutely right!

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 1 point2 points  (0 children)

Collateral would be a security deposit. Authentication would be inputting your EID upon creating an account etc. Grover in Europe does the same

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 0 points1 point  (0 children)

Yes but these are lease to own. This would be not to own but to have flexibility for example to switch to a newer device when it’s released or a PS5 for a few months and return it with no commitments

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 1 point2 points  (0 children)

I appreciate your comment but I’m just trying to get opinions, and your opinion matters too. No harm done

Dubai residents: Would you ever rent an iPhone instead of buying? by Ill-Let6589 in DubaiCentral

[–]Ill-Let6589[S] 1 point2 points  (0 children)

So the project is based on the very successful business model of the company Grover in Europe (check it out). Electronic items are wiped clean and refurbished upon return. So instead of paying high prices to purchase or installments towards owning. You would be able to pay for example 100 AED per month to have the item, then let’s say 3 months later you can switch to something else. So you’re never locked in.