Grover Brings The Sharing Economy To Electronics

Grover Rents Electronics

At the rate smartphones come out today, the price of a new device (plus two-year contract and data plan) can be difficult to pay off in the time before they release the next one. To that end, a new startup to the U.S. thinks renting is the more financially responsible option.

TechCrunch reported that Grover, a German-based startup that lets consumers rent smartphones, laptops and other electronics for a monthly fee, is launching in the U.S. as of Thursday (July 21). Each device is priced at about 5 percent over its total value, and shoppers can choose year-long plans as well.

Grover is limiting itself to the New York City area at first, though after launching in Germany in 2015, it’s seen 80 percent of customers who sign up for monthly memberships renew for a second. If Grover can replicate that kind of success across the Atlantic, it could serve as a major source of revenue should the company decide to expand outside of the five boroughs.

Alternatively, Apple could release its iPhones in half the normal time. That should get Grover’s rental sales going.