p2pnet news | Product News:- Here’s an idea which’ll probably do well for Jade Van Doren, who came up with it.

He’s TechForward’s chief executive and according to Associated Press, his inspiration came from traveling in Asia, “where gadget worship is even more pronounced and some consumers buy new cell phones every few months”.

It goes like this: instead of buying an extended warranty next time you buy a gadget, “you may find yourself hearing a pitch from TechForward Inc., a Los Angeles-based company selling a ‘guaranteed’ buyback plan for electronics,” says the story.

When you buy something and get fed up with it, you sell it back to TechForward at a predetermined price which depends on how long you’ve kept it.

“If you sell an iPod after a year, for example, you would get $40; after another year, $20,” says AP, adding:

“In the financial world, this is known as a ‘put option’ – the opportunity to sell a certain number of shares at a certain price at a certain date in exchange for an upfront fee. But Jade Van Doren, TechForward’s chief executive, said his inspiration came from traveling in Asia, where gadget worship is even more pronounced and some consumers buy new cell phones every few months.”

So, $31 for an iPod after a year.

Is that a deal?

Or what?

Slashdot it!

Also See:-

Associated Press – Girl Next Door Lands on the Internet, January 16, 2008

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This entry was posted on Thursday, January 17th, 2008 at 7:03 am and is filed under Product News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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