Again, Econet has come up with a shocking ‘deal’. This time, a payment plan for an iPhone 5 which goes on for 24 months with $100 monthly payments – all amounting to a grand value of $2,400.
Of the monthly payment, $45 is for the device itself, while $55 is a compulsory credit (airtime) payment you have to make through the payment period. On top of that, the networking giant throws in bonus airtime worth 13 percent ($13) of the monthly payment. Then after two years of forking out a Benjamin Franklin every month, you will be the proud (and sole owner) of an iPhone 5.
First, the release by Econet, “Get the iPhone 5 16GB for just $100 per month on a 24 month contract plan. The offer comes with $55 airtime and $12 worth of bonuses in data bundles and airtime per month. Visit our shops, inbox or email us and our inspired team will call you. Hurry while stocks last!”
Just $100, huh? Everything about this deal tells you how much it’s not a deal.
The first warning sign; the monthly payment for your iPhone 5 is actually more for the airtime than the device.
An iPhone 5 currently retails at around$1,200 in Zimbabwe from the biggest mobile phone dealers, which exposes just how much the deal is not quite one. Despite the ease of a payment plan, installments would cost the payer twice the amount the phone retails elsewhere.
It’s unfortunate that the credit comes with the phone, otherwise $1080.00 would have been a worthwhile deal.
Shocked as we were when we first learnt about the package, we initially doubted that Econet’s Fan Page on Facebook has published the right thing. Upon making further inquiries we came to realize that this is not an unusual deal with Econet. Payment plans for several other devices have been offered by Econet, all with seemingly excessively high price tags.