If you want to upgrade to a brand-new television from LG, there's an affordable way to secure one of these flatscreens. Starting from £15 a month, LG will let shoppers pay for its televisions via a subscription — like buying a new car on lease, or treating yourself to a new smartphone on a pay-monthly scheme.
LG teamed up with subscription platform Raylo to launch LG Flex, its first subscription service in the UK. You won't need to pay a penny upfront to take delivery of the latest lineup of flagship televisions, soundbars, or monitors for your desktop PC set-up from LG.
Similar to the Galaxy Club from Samsung or the iPhone Upgrade Scheme from Apple, you can swap to a newer model when LG launches one — so you'll never be stuck with yesterday's kit while everybody else moves on.
The new subscription option will be accessible at checkout on the LG website.
LG's top-of-the-line OLED televisions cost just £26.33 per month, whilst its mid-range 4K QNED models start from £17.83 per month. Fancy something truly massive for your living room? The mammoth 75-inch QNED86 sets you back £43.97 per month.
Pair one of their tellies with a soundbar and you've got yourself a proper cinema setup at home, all without raiding your savings account. Christina Sangmi Lee, who heads up LG.com, believes this service is all about giving you more choice in how you access the latest gadgets.
Christina Sangmi Lee, Head of LG.com, said: "We know people want greater choice in how they enjoy the latest technology. By partnering with Raylo, we’re able to offer a subscription experience that meets the expectations of today’s customers. We’re excited to bring LG Flex to market, offering more flexible and affordable access to LG’s latest tech."
Karl Gilbert, who co-founded and runs Raylo, believes this sort of scheme is the future for electronics firms.
"Electronics brands are increasingly moving beyond one-time sales and toward subscription-first models," he explains. "Our partnership with LG marks a key step in that transition, delivering clear value for both electronics brands and customers whilst expanding our category offering with a true global leader."
If you haven't heard of Raylo before, they're making a name for themselves in the subscription space.
The platform has just pulled in £30 million in fresh funding to help them grow bigger. That money breaks down to £10 million in equity investment, with Citibank leading the way, plus another £20 million in debt from NatWest, who've already been backing them.
A US bank has now jumped on board as well, which should help Raylo push into America. They're planning to launch across the pond in the second half of this year, though they'll keep growing here in the UK too.
