Online startup RentoMojo has announced the launch of its smartphone rental service that will offer high-end mobile devices, like Apple’s iPhone X, Samsung’s Galaxy S9+ and Google’s Pixel 2 through its platform that’s known for renting out furniture, appliances, gadgets and bikes in a number of major metropolitan areas around the country.

In a statement to the media, the founder and CEO of RentoMojo, Geetansh Bamania, said that he expects the new smartphone rental service to bring more customers to the platform and increase transaction volumes. “Consumers can now subscribe to or obtain smartphones on lease, through our RMI (Rental Monthly Instalments) system, as opposed to purchasing and owning”, he said.

“This arrangement offers the perfect opportunity to users to upgrade and keep up with the latest device innovation, frequently and at a significantly lower cost. In addition, a subscriber also has the option of owning the product by paying a certain sum, post the lease period”

As part of its plans to get customers hooked on to high-end smartphones from top manufacturers, the company has started offering premium devices from the likes of Apple, Samsung and Google, with monthly rentals starting from Rs 2,099 up to Rs 9,299 for a period of 6, 12, 18 and 24 months.

The company is also offering the Google Home smart speaker on rent, with installments starting at Rs. 399 per month. Customers will eventually have a wider portfolio to chose from, with Bamania insisting that the company is in discussions with other players to make more devices available on its platform.

He further revealed that the company is planning to expand its services to Chennai, Hyderabad and Pune in the next quarter. RentoMojo currently offers its services in Bengaluru, Delhi, Gurgaon, Mumbai and Noida.