Phones 4U founder John Caudwell has put his weight behind a new mobile startup launching today which aims to simplify buying a new mobile and do away with lengthy contracts.
Unshackled.com will sell phones and sims separately and has partnered with peer-to-peer lender Zopa to offer financing for the upfront cost of the device.
Founded by the former chief operating officer of Phones 4U John Whittle, former finance chief John Morris and legal chief Steven Lloyd, Caudwell is the only outside backer of the new venture, however, the amount of his investment has not been disclosed. Caudwell made billions from the sale of his Phones 4U business in 2006.
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The online store will offer 15 different networks and handsets from the likes of Apple and Samsung, including the latest iPhone SE and Galaxy S7 models.
It claims that it could save consumers as much as £330 and also offers a trade in.
The unbundling of phone and contract makes it easier to switch and comes as Ofcom is introducing new rules to make switching easier.
Whittle, chief executive of Unshackled, said: “Separating the phone and SIM purchase is the best option for the vast majority of consumers. Major networks and mobile phone retailers know this but actively choose not to explain it to their customers as they’re focused on profit not people. Unshackled.com scans the market and does all the research leaving customers with a bespoke shortlist of options that will save them both money and time.”