Australian computer equipment financing company ThinkSmart (ASX:TSM) and its UK partner, electrical retailer Dixons, have jointly launched a computer rental and services solution for consumers.
TSM shares jumped 11.1 per cent to $0.70 following the announcement.
The program, named Infinity, is a two-year computer rental service, which includes 24/7 technical support for the duration of the contract and a two-year subscription to Norton 360 Gold.
Customers will be entitled to two annual tune ups, and the products will be covered by a warranty for the duration of the term.
“To make it easy for [customers] to stay up-to-date, we will also reimburse them 25% of the original value of their equipment at the end of their term when they upgrade on a new Infinity contract,” ThinkSmart CEO, Ned Montarello, said in a statement.
The UK launch has been timed to coincide with the key Christmas trading period, Montarello said.
Concurrent with the launch, ThinkSmart has secured an extension on its customer financing contract with Dixons until 2015.
Dixons operates 683 stores across the UK, and last year generated nearly £1.4 billion ($2.24 billion) from computer equipment sales.