Roger Fingas
Sprint on Monday launched a promotion offering a free 64-gigabyte iPhone 8 in exchange for trading in an iPhone 7, Samsung Galaxy S8, or Galaxy Note 8.
The deal applies to both new and existing customers activating a new line, including people who have already preordered an iPhone 8, Sprint said. Technically customers are agreeing to an 18-month lease which would normally cost $29.17 per month, and they should receive credit within their first two bills.
People trading in select older devices — such as an iPhone 6 or 6s — can still get 50 percent off their monthly lease payments. In any case, a $30 activation fee is waived for online orders.
Sprint is facing a tough competition for iPhone 8 buyers. On top of many shoppers choosing to buy directly from Apple, or third-party retailers, rival carriers are running their own promotions. T-Mobile for example is offering $300 off the cost of an iPhone 8 with a trade-in, albeit over the course of 24 months.
Sprint's main advantage may be its unlimited plan, which costs $50 per month for one line and $40 for two, with up to three further lines at no cost with AutoPay and paperless billing turned on. The company does however limit video to 1080p, and cap bandwidth on music and games to 1.5 and 8 megabits per second, respectively.
The iPhone 8 ships on Sept. 22. Some upgrades include an A11 processor, wireless charging, a True Tone display, and improved camera hardware tuned for augmented reality.
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13 Comments
how is this a good deal? "Technically customers are agreeing to an 18-month lease which would normally cost $29.17 per month, and they should receive credit within their first two bills."
I buy a year old car out right (full price) for $650. I trade it in for a new car which is costs roughly $50 more. But instead of buying it and getting money for my trade it, give away my old car that I paid money for and instead I lease for 18 month for $0/mo. I don't own this car that I am leasing, I'm just leasing it for free. After the lease is done, I don't have the the $650 that I paid for my old car, because I simply gave it away, nor do I have the new car because I never owned it. I was just leasing it.
Unfortunately, its not a free iphone. There is fineprint and a lot of it. The deal is 0 down 0/mo for 18 months and pay remaining balance at the end of 18 months. There is going to be approx $175 balance on the iPhone 8 if you trade in an iPhone 7. Here's the breakdown:
iPhone 8 Cost = $699
Monthly Credit for iphone 7 = $29.17
Total Credit = $29.17 x 18mo = $525
Remaining amount = $699 - $528 = $171
As you can see, the monthly credit for your trade-in does not cover the full price of the iPhone 8. There is a $171 deficit which is due at the end of the contract. So, instead of putting down the $171 up front, they bill you at the end. However, they advertise as if the iPhone is free. This is very devious advertising meant to lure unsuspecting customer into long 18 month contracts. Don't get me wrong - this may still be a good deal - but the advertising could have been much more clearer.