Mikey Campbell
Following the announcement of new iPhone upgrade incentives this week, first by T-Mobile then Sprint, America's largest wireless carrier Verizon debuted its own yearly upgrade path on Thursday, saying it offers benefits over lease-type plans.
Under Verizon's stipulations, customers can upgrade to a new iPhone every year once they pay out half of a device's retail cost and trade in that unit for a new one, reports Re/code. The offer will be automatically activated as an option for anyone purchasing an iPhone 6s or 6s Plus, including preorder customers.
Instead of being introduced as a separate pricing scheme, Verizon's annual iPhone upgrade program coexists with the current 24-month financing plan. The option is more flexible than competing device lease offers, according to the company.
"If you're not interested in upgrading, you still have the option to pay your phone off in 24 low monthly payments," Verizon said. "That's a better option than those "lease plans" offered by other companies, which can include surprise balloon payments just 18 months into your agreement, or ask you to turn over your phone without getting anything for it."
T-Mobile earlier this week announced a similar iPhone trade-in promotion attached to its Jump On Demand service in which customers can nab a new iPhone 6s for as little as $5 per month. Final monthly fees are calculated based on the device traded in.
Sprint responded to T-Mobile's push on Thursday with a discounted lease plan costing only $1 per month for 16GB iPhone 6s. To get that price, however, qualifying customers must sign up for Sprint's iPhone Forever payment plan and trade in an iPhone 6. Higher monthly rates are charged for older device trade-ins which, unlike T-Mobile's promotion, are limited to iPhone.
Malcolm Owen
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28 Comments
OK so did Verizon change their policy? This time last week they told me I was unable to upgrade because I hadn't paid off 75% of my phone. But this article states paying off 50% allows upgradability. Someone know anything about this? Because when I signed up the Verizon rep specifically told me once I pay off HALF of the phone I would be able to upgrade. 'Tis very confusing.
"Responding to moves from competitors, Verizon is announcing later on Thursday a program that will let iPhone customers upgrade to a new phone every year if they have paid off half of their device’s cost and turn in their old device." I think I'd rather just go with the Apple Upgrade Program, which includes AC+ on a monthly rate. [quote name="Rmb0037" url="/t/188470/verizon-jumps-on-annual-iphone-upgrade-bandwagon-with-new-trade-in-offer#post_2782044"]OK so did Verizon change their policy? This time last week they told me I was unable to upgrade because I hadn't paid off 75% of my phone. But this article states paying off 50% allows upgradability. Someone know anything about this? Because when I signed up the Verizon rep specifically told me once I pay off HALF of the phone I would be able to upgrade. 'Tis very confusing.[/quote] Yes, they changed their options tonight.
I like how Apple forced the issue with all the cell phone companies. They really do not want to loose control over the customers.
I wish Apple would monitor their partners. Verizon is a complete rip-off. The last time I was sold on an upgrade offer they never sent me the $200 Visa Card for the trade in. I've call many times over many months with a promise made every time that I would get the prepaid VISA. Never did. Not good. It's a sham. I would advise you look for deals from other service providers.
[quote name="Maestro64" url="/t/188470/verizon-jumps-on-annual-iphone-upgrade-bandwagon-with-new-trade-in-offer#post_2782054"]I like how Apple forced the issue with all the cell phone companies. They really do not want to loose control over the customers.[/quote] I hadn't thought of it like you phrased it, but it does seem accurate. That leaves AT&T in the USA market to ante into the game or not. I suppose this offer may be available to some other brands of "higher end" phones too, but it took the iPhone and Apple to get it going. I can't imagine how primitive cell phones may still be, had Apple/Steve Jobs not had the balls to disrupt things with that first iPhone.