Former FT and Channel 4 boss Justin Dukes has formed a new company which sends out price information on electrical and white goods via SMS, according to the Sunday Times.

The firm, 60207.com, texts you the three best prices for products you spot while you’re out shopping, charging between 75p and 85p if it has the information on its database.

It then offers you the option of buying the item at the cheapest price that comes up.

Nicholas Mearing-Smith, managing director of 60207, told the paper: “We’ve focused on the electronic-goods sector because it is easier to identify products and search for equivalent prices using product codes.

In separate news, a comparison service focused on groceries has also been launched. It’s called Mysupermarket.com.