Virtual telco Circles.Life announced on Monday (17 September) the launch of their +Phone Plan, the first phone plan in Singapore that allows customers to buy a phone without getting contractually bonded to a mobile plan.
It’s essentially an instalment plan for the phone with no strings attached.
The +Phone Plan is made up of the virtual telco’s basic no-contract, 6GB plan bundled together with a phone of the customer’s choice.
Customers pay an upfront amount starting from S$10 (for a Huawei P20) and S$65 a month over 24 months.
The +Phone Plan sets out to be the most value-for-money SIM-only plan, as compared to Singtel’s 3GB Combo 3 data plan and Starhub’s 4GB Unlimited Weekend data plan.
Circles.Life +Phone Plan for iPhone 8 (without add-ons): $260 + ($65 x 24 months) = $1,820
Starhub 4GB Unlimited Weekend for iPhone 8 (without add-ons): $174 + ($68 x 24 months) = $1,806
Singtel 3GB Combo 3 for iPhone 8 (without add-ons): $428 + ($68.90 x 24 months) = $2,081.60
Typically, customers using traditional telcos like Starhub, Singtel, and M1 would incur early termination fees should they decide to end their contract before their two-year plan is up.
Customers using the +Phone Plan will only need to pay the remaining costs of the phone, no termination fees or penalties as promised by Circles.Life.
After the 24 months, Circles.Life customers who choose to switch to a new phone under the new plan will continue to pay $65 per month.
If they do not wish to change their handsets, the +Phone Plan will automatically be adjusted to the base $28 per month plan.
Circles.Life quoted a CLSA report on 10 May 2018 stating that 55% of customers were on postpaid plans with bundled handsets.
So, the +Phone Plan aims to change the misconception that this is the only way customers can purchase phones.
Circles.Life’s Co-founder, Rameez Ansar said, “It’s a telco’s responsibility to open digital access to everyone, and make the customer experience smooth and affordable.”
“When we found out how much money customers spend over 24 months when buying a phone, we decided to launch the +Phone Plan and help customers save hundreds of dollars a year.”
These savings for all Singaporeans add up to “up to half a billion dollars” every two years, the statement added.
With the launch of their new product, Circles.Life shared that they are closing on 5% market share ahead of schedule.
For more information about Circles.Life’s +Phone Plan, visit here.
Featured Image Credit: Circles.Life Facebook