US mobile operator Sprint (NYSE: S) and New York City based start-up GPShopper today announced the launch of Slifter, a new mobile local search application that employs GPS to find products at neighboring retail locations.

Users with compatible handsets simply enter a keyword, product name, model number or UPC code to find a product. They can then view product availability, price and promotional information, at the nearest locations. 85 million products are available at more than 30,000 retail stores across the United States.

Slifter uses TeleAtlas map data and the location functionality is enabled by an ESRI middleware. It cost US$1.99 per month to Sprint subscribers (data consumption is not included). The exact business model has not been revealed, but Maya Mikhailov, the Marketing and Communications Director at GPShopper wrote to GPS Business News in an email: “Our business model is generally based on a "pay-per-click" model. Very similar to what you see online.”