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Sprint offers free 64GB iPhone 8 after trade-in to lure subscribers

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.