T-Mobile trade-in plan offers iPhone 6s from $5 per month

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Three days ahead of Apple's big iPhone launch, T-Mobile CEO John Legere announced a promotional payment plan that presents upgrade customers with an opportunity to own a new iPhone 6s for as little as $5 per month.

An extension of T-Mobile's "Jump on Demand" initiative, the new incentive lets customers trade in their old iPhone for a new iPhone 6s lease priced at $5, $10 or $15 a month. Owners of last year's iPhone 6 only have to pay $5 per month, while those trading in an iPhone 5s need to shell out $10 per month. Customers trading in any other device rate the $15 per month tier.

Legere, who revealed the incentive package on Twitter, noted that today's promotion can be applied to existing iPhone 6s preorders with a trade-in. Specific plan details remain unclear, however, as T-Mobile has yet to make an official announcement. More information will be available on Wednesday, Legere said.

T-Mobile's iPhone 6s-specific installment plan appears to be one of the more competitive offerings on the market, though the decision to discount Apple's handset is not surprising for a carrier aggressively wooing new subscribers. Apple, too, is offering an iPhone Upgrade Program this year, with 12-month annual pricing starting at $32 a month for a factory unlocked handset and AppleCare+ warranty protection.