Chinese B2C e-commerce platform JD.com (Nasdaq: JD) recently announced a new smartphone rental service called "JD Baozu," which will initially allow users to rent either an iPhone 7 or an iPhone 7 Plus smartphone. A representative for JD.com said that the service is still in the testing stages and that it is not yet possible for most customers to place an order. The service is currently available for JD.com employees, and the company expects to add more phone models and serve the general public in the future.
Authorized users can place a rental order through JD Baozu's official account in Tencent's (0700.HK) WeChat mobile messaging app. The order screen lists a 32 GB iPhone 7 at RMB 228 per month for a 12-month contract, and a 128 GB edition at RMB 128 per month. A 32 GB iPhone 7 Plus is listed at RMB 268 per month, and a 128 GB iPhone 7 Plus is listed at RMB 298. All phone models are covered by a mandatory "worry-free repairs" insurance policy that must be purchased for RMB 299.