Don't want to buy an iPhone 4S? Rent one

It's a wonder that a carrier hasn't tried this before now. UK carrier O2 has launched a pilot program called O2 Lease, which allows rentals of the iPhone 4S.

Customers can rent the phone for a year. The plan is £55 per month and includes a 16 GB iPhone, 750 minutes, 500 MB of data, unlimited texting and O2's mobile insurance. An upgrade to the 32 GB-model of the 4S is an extra £10. At the end of the year, the phone must be returned.

O2's regular 12-month contracts range from £21 to £62 per month with data an £3 to £10 extra.

O2 said that there are a range of business tariffs, designed for small businesses to utilize the phone. Those who participate in the leasing program must keep the phone in good shape or face charges from O2 at the end of the rental period.

[Via Engadget]