14 DAY TRIAL // A company called Lumoid, which opened up gadget rentals in 2014 to allow customers to try expensive gear before plucking the big bucks, has set its sights on the Apple Watch.
Anticipating strong demand but equal reluctance from some, the San Francisco startup has decided to throw in Apple’s gem and let you test drive it for seven days.
Try before you buy
A catchphrase that seems to do wonders for the consumer population and vendors alike, try before you buy is something you want to hear whenever you’re interested in an expensive product.
While the entry-level Apple Watch is quite affordable (in terms of good quality wrist-worn items), the same thing cannot be said about the mid-tier and high-end models that Apple plans to sell. Nevertheless, many people would prefer to shed only a few bucks and try the device, rather than spend $350 (€305) or more without the ability to backpedal on that decision.
Which is why Lumoid is in business. Aarthi Ramamurthy, the company's founder and CEO, tells CNBC that “Before breaking the bank on the smartwatch, consumers should be able to try it out.”
“The wearable market is really expanding,” she said. “In wearables, people want to track anything from heart rate to how fast they are walking to running all the way to their blood pressure. So we looked at the market and thought there could be a slightly different business model compared to the photo video stuff.”
Rental plans
Lumoid says its existing rental plans for cameras and other gadgets remain intact. This year it is only adding the Apple Watch to its portfolio of rental plans. Its current plan for renting wearables costs $20 (€17.43) and lets you take home a set of five devices and test them for a full week.
The Apple Watch offer is expected to balloon that price. The company could also instate a standalone offer just for the Apple device.
Other standout items in Lumoid’s portfolio include the Motorola's Moto 360, the Google Glass Explorer Edition, a DJI Phantom 2 drone with a GoPro camera, a Polaroid Cube camera, and others.