Vodafone becomes Australia's first telco to launch a 48-month mobile payment plan as Australians hold onto phones for longer
Tuesday 29 September – Vodafone is Australia’s first telco to launch a 48-month, interest-free mobile device payment plan, giving customers greater choice and flexibility in how they pay for their next phone.
The new repayment option comes as Australians are keeping their smartphones for longer. New Vodafone data reveals the proportion of customers using smartphones four years or older has doubled since 2021. Until now, repayment plan tenures haven't kept pace with this shift in consumer behaviour.
At the same time, smartphone prices continue to rise driven by increasing device capability and growing component costs, with some devices retailing for up to $5,000.
Vodafone customers have previously been able to choose from 12, 24 or 36-month mobile payment plans. By introducing an Australian telco-first 48-month mobile payment term, the telco is giving customers greater choice and flexibility in how they repay the cost of their device.
For example, an iPhone 18 Pro 256GB purchased on a 24-month payment plan with Vodafone costs about $88 per month. Now, on Vodafone's 48-month plan, the monthly cost halves to around $44 per month over the longer tenure.
James Gully, Acting Group Executive Consumer at Vodafone, said the new repayment option reflects changing consumer habits and growing pressure on household budgets.
"Australians are holding onto their phones for four years or more, but until now they haven't had the repayment options to match," Mr Gully said.
"The telco industry hasn't moved, so we're moving first. Our new 48-month repayment plan gives Australians another way to manage the cost of technology, with more flexibility and lower monthly repayments.”
A device repayment plan allows credit-approved customers to split the cost of their mobile device into equal monthly instalments interest-free when they stay connected for their repayment term, rather than paying the full cost upfront.
The 48-month repayment plan is available from today across a range of mobile phones and tablets.
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About Vodafone Australia
Vodafone Australia is a telecommunications brand offering mobile and fixed broadband services.
Vodafone Australia is part of TPG Telecom.